Today I tried to compile the
arduino sketch (By Oleg)
(the link may not work... so I translated some comments and attached the archive).
After some initial troubles with errors ("not defined in current scope" etc.) fixed (probably) by adding couple of libraries, the code compiles OK.
This firmware version (7a_lite) supports handle encoder (one knob for both axis, switchable by selector switch), limit switches, adjustable feed rate (pot), thread cutting (this works with chuck encoder)... almost everything I may ever needed (or so I think at the moment).