EMC2.4/AXIS over USB w/Arduino and a call to the crowd.

As long as you bare in mind that the Arduino controlled stepper is moving around in a "carrot on a stick" fashion. With that said, yes it can do it, but that axis will catch-up a split second later than the LPT driven ones.

So you can either strategically insert some dwell codes where you need that axis to considered "finished moving", or slow simply your feedrate down a bit and wait.

Otherwise, like a horse chasing the carrot; go too fast and the horse will turn every corner into a radius.