I've just come across this thread as I've been off the 'zone' for a few days. I think some of your parameter's are going to give you a bit of trouble. Currently I'm about 1/2 way through a 20 x 10 x 4 machine build, I'm not sure that your going to be able to build a gantry that is stiff enough w/ just 50 lb's weight, mine is over 800 lb's. If your main goal is to build a canoe, and not really build a milling machine, I think you'd be best suited to find someone who can mill it for you, rather than build your own machine to do it. I don't want to be all negative, but I'm just curious as to if this is part of your program or a side bar that is needed to get to the actual meat of the project.
As Vacpress has noted, a budget number would help us greatly in illuminating options for building your machine.
I can honestly say that my machine has gone from a $X projected cost to over double that[ and I'm no-where's near done it yet either.. there's still 50% again as much in stuff to purchase..and my initial number was well over the $5000 Vacpress stated], and not to mention its alot more work than I'd first thought. Its not an impossible thing to do.. it's just not a complete walk in the park Also its worth noting that I work full time designing mechanical/industrial equipment, and have access to machines and material's that others might not have so your projected price could vary greatly depending on your situation. If you have to rent certain tools etc..
I would also recommend sitting down and doing the nesc. calculations to get your design down-pat, know what your cutting force needs to be, how fast you want to accelerate your gantry, how heavy it is [ do some actual design on this as it will come out way heavier than you think..] then spec in the stepper size you need. You'll have more success via this route, over the TLAR design [That Looks About Right].
My 2 cents
Jerry [ still shaking grinding dust out of my hair..but 3/4 of my welds are now ground down and nice and smoooooth .. getting ready for priming!! ]
JerryFlyGuy
The more I know... the more I realize I don't
(Note: The opinions expressed in this post are my own and are not necessarily those of CNCzone and its management)