In my opinion you will be ahead in a few ways by keeping the existing motors, providing they have a decent life left in them, brush length etc.
In spite of what you 'biased' friend says, the servo is the best choice.
So as well as having the motors in place, which are already correctly sized if presently doing a good job of operating the machine now, and hopefully have differential encoders, rather than resolvers etc.
You would also have the correct power supply in place.
So you just need a software package and DC drives.
Being 54vdc motors, you should have a wide choice.
That inverter drive is for a induction motor spindle, not servo's.
Al.
CNC, Mechatronics Integration and Custom Machine Design
“Logic will get you from A to B. Imagination will take you everywhere.”
Albert E.