Gerald- I think with a little ingenuity the answer is yes. The problem is where to locate the tool holders for the tools that are off-line.
My suggestion is to rig up a holder that moves with the table. So when the spindle goes to one end of the gantry, the tools can be moved into position by the table.
The other thing to consider is the spring that supports the Z assembly. A stronger spring, or perhaps a pneumatic support like shopbot uses on its ATC may be needed.
If you have an alpha buddy it should be a great asset in such a conversion.
Can you see how to restore the system if it doesn't work out? And can you get your money back on the spindle units if it turns out you cant make it work? If so .. give it a try and keep us informed!
D
"The best thing about building something new is either you succeed or learn something. Its a win-win situation."
--Greg Westbrook