Cypress is bringing out a PSOC 5 chip next year with ARM cortex M3 & on board analog & digital peripherals.
As for FPGA - what MCU will you use ?
Are you coding verilog or VHDL ?
I nearly have my electronics degree now & have a diploma in control systems.
Why not just stick LINUX into your chip and run a LINUX g-code app ?
I have an altium development board.