I have considered what you are for exactly the same reasons. You try to get any sort of speed out of the control at 9800 baud and the machine chokes. If you have a CAM program that will filter, use it, it helps.
To anwser your question. I conisdered using a KFLOP from KMOTOIN, hooked to either MACH3 or KMOTIONS cnc program. If your not a "like to tweak and fidget guy" then I would avoid a retrofit like this. You will spend more time tweaking than machining. BUT you will get some "awesome" speeds comparatively. There is a guy on youtube with the KMOTION on his Fadal. He sold it and doesnt have a whole lot of information. Some of the off the shelf conversions are $20k+. At which point I do not believe it to be worth it.
Like mentioned before they are a heavy table box way machine....but with a fast control, ac servos (or your dc servos with encoders), you will see a significant improvment in speed. There is a video somewhere on here with someone that converted there fadal to I believe a Numatix control. Pulling numbers from the @$$ I seem to rememeber 500ipm cut, 1200ipm rapids.
'93 Fadal VMC-40
Fadal 88 Control