Nice drawing and design.
282's should be more than enough.
Trying to run a nema 23 size motor on home made circuits is a false economy in my opinion. Going low cost on the electronics means just that, you have low cost electronics. If you go better on the drives and such, you can always move them to another machine or back and forth, when you have 2 machines. With low cost mechanicals, you can always use the machine to make parts for a better one or do parts upgrades one at a time.
Having used a Xylotex board on my Taig for a while and now seeing what the G540/250/251's can do. $299 gets you a heck of a lot of capability.
Xylotex 4 axis $185. 35v and 2.5amp absolute max 87.5 watts max/ motor.
Breakout board $75 for a decent one.
VFD control board $30 and up
Total $290
G540 All of the above bulit into 1 and the 4 drives are modular. if one goes bad it is 5 minutes to swap out.
$299
http://www.geckodrive.com/product.aspx?c=3&i=14469
50V and 3.5 amps conservative ratings. 175 watt / motor
The actual way that it drives the motors is 100 times better than any other low price drive on the market.
Double the power for a few dollars more.
IT IS A NO BRAINER
Many peope will say I can go slow, after all it is just a hobby. The laws governing how well a cutter cuts don't care what your budget or wife(nuts) says, there is a certain minimum speed you have to go or it burns the work or dulls the cutter or gives a lousy finish on the part.
I have 2 machines ( router and mill) that, If I knew then, what I know now, I would have done the electronics differently. The newer gecko drives I mentioned weren't even available at the time.