but it will not center to a desired position
Steppers do NOT lose steps that often, particularly if lightly loaded
It depends on the stepping pulse speed
In your application I would have thought the limiting speed would be set by the cutting feed of the material so you are not likely to run into these problems.
I will see what I results I get with just the steppers first.
any decent stepper would be working well within its capabilities if it was rotating at similar speeds to even the fastest hobby servo