Yes it has steppers on it, gearing if I recall is 2.5:1 and I get 2500mm/min (100ipm) which was the original rapid. Having said that yours is a series 2 it will be a much heavier machine so not sure how yours would perform.
If I was doing it again I would have AC Servos on it and I am actually considering doing that, I have just about finished doing a Beaver Mill which is about the same size as a series 2 Bridgeport and it originally had DC Servos which I swapped out for AC and what a difference compared to steppers
If you stayed with steppers you should be able to do it for $1000, you would need 3 drives, a power supply and a breakout and my preference would be new steppers as well.
Steppers would likely be around $100 to 150 each, drives probably around $100 to 130 each, breakout board under $100 and building a power supply should be around $100 I would imagine.
Hood