If the drives are not burned out, I would stay with the Westamp drives and powersupply, plus motors.
I converted a similar vintage mill with Westamp drives, and retained all of the original motors, power supply, and encoders. My motor encoders have been changed over the years, but everything else is original. When my original CNC control died, and the manufacturer had gone out of business, I had it sitting in my shop for about 10 years. The Vital System dspmc controller made a perfect match for the +/- 10v. Westamp drives, and the motors run smoother and faster now than with the original controller.
In the 1980's, Excello was a top level machine tool manufacturer, and I am sure they matched everything pretty well for the size of the machine.
You still need to build a control panel, and wire up a lot of switches and connections to get everything working. If after using the machine, and you want more speed and power, you can move up to later state of the art AC brushless servo's and drives, but the costs will be a major outlay.
John