I would go with something like Geckodrives G320 servo drivers to run the three axis. I dont like steppers. You can loose steps. Servos have encoder feedback so there is no lost steps. Use a rack and pinion system. Depending on the size of the table maybe two servos on the long axis (X). You can either belt them down or use a gearbox.
I like Mach 3, thats what I use on my mill. Support is good and quick and you cant beat the price. There are a few options for interfacing to the table, First is the parallel port. This is the cheapest option and lowest performance. But this is where you will want to start for now at least.
Second is the ncPod. This is a little board that is connected to your PC via the USB. It has a small microprocessor on it and sends the signals to control your motor drivers. It is still in beta stages and it does not offer much higher performace in step frequency above the parallel port.
Third is the Geckodrive G100 "GRex". This is a $400 6 axis motion controller that talks to mach through a ethernet cable. This is what I have on my mill. It has the best performance with a 4Mhz step freq (VS 45khz on the others) With this I am driving my mill at 50000 steps per inch at 400ipm. It is also in beta right now but is progressing rapidly literally weekly.
For him right now I would stick with the parallel port as I am not sure if you can use the THC with the ncpod or the grex. He will need a decent computer to run it. I use a 2.4Ghz P4 with XP Pro.
Build your machine nice and rigid. This way you can stick a router spindle on the z in place of the torch and play around with wood.
Get a larger plasma than you think you are going to need. Most plasmas are rated at about a 60% duty cycle and a plasma table will run it to 100%. Figure a machine rated 1" will maybe do 1/2" on a plasma table. Use a machine torch. Dont mess around with those jury rigged holders that hold a hand torch. Buy hypertherm if you have not picked one up yet. Best darned machines out there.
Last, check out
http://www.cnczone.com This is the home for CNC related stuff. All sorts of people making machines out there.