I think you'll find three problems inherent in the standard ShopBot when it comes to machining steel.
1. The gantry and entire structure is just too weak and wobbly. To machine steel, you need a solid machine made from heavy steel, not aluminum extrusions.
2. The motors that come with the standard SB, even an Alpha, have steps too large to work with a material like steel.
3. A spindle or router spins too fast and a spindle has too low torque at the lowest RPM's to do anything but make a mess.
It's very likely that you'll twist your machine with each step and the results will be just terrible. You'd be better off getting a mill or farming out the work.
ShopBot Details:
2013 PRS 96x60x12 (Centroid upgrade)
4hp Spindle
12" indexer
Aspire
Rhino
Fusion 360
Ferrari 360
Prusa MK3S+
Prusa XL multi-tool