Hi,
yes if the existing motors are good then new drives would certainly be the way to go.
I had not played with a decent AC servo until fairly recently when I bought a secondhand 1.8kW Allen Bradley servo and drive.
It wipes the floor with any DC servo I've come across. The tuning software has a database of electrical, thermal and physical characteristics
and even magnetic characteristics including saturation and hysteresis. All manner of control modes, pulse, analogue, all manner of modes torque, velocity
and position, indexing both speed and position, incorporates its own limit switches, able to program any number of digital and/or analogue performance
indicator outputs, programmable following error and the list goes on. I'm still learning about what they can do.
Many of the Eruopean and American brands are very expensive, as I say Delta (Tiawainese/Chinese) is a good compromise. About $1000US for a 1.5kW servo and
drive with a 20 bit absolute encoder. Makes mincemeat of DC servos.
Craig