This plotter was actually a project from years ago and the details are documented on my blog here:

http://junkplusarduino.blogspot.jp/p/svg-image-plotter.html

It's capable of fairly precise drawing. Certainly precise enough for a simple pcb. The z-axis, on the other hand, is just a dc motor that I pulse on for a few hundred ms. I may need more precise control for milling, so I might swap it for a similar dvd player part that uses a stepper motor. But I've been wondering, since I'm only working with one type of material with consistent thickness, and I'm only trying to mill off a very thin layer of copper, I really only need two z-axis positions: up and down. The up position doesn't even need to be precise at all. I could, perhaps, just set a tightly adjustable stop for the down position and run the tool down until it hits the stop. What do you think?

The next thought is the spindle and bit. I have a whole box full of DC motors from various junk. I picked out a 12V one that spins quickly with decent torque. I even had a little coupler, a sleeve with two set screws, that snugly fits the shaft and a 2mm drill bit. I tried it out by drilling some plastic. It works as long as I don't put a ton of pressure on it. Of course a drill bit is far too long and not designed for this sort of thing. I have an angle grinder and files. Could I chop the bit down to a short piece and carefully shape the end into about a 60 degree taper? I know the metal quality will be a significant factor, but it doesn't hurt to experiment with dollar store drill bits.

Oh, I had another idea. Rather than a milling bit, how about an abrasive "diamond" bit with a tiny ball end. I've seen those in the dollar store too. If I mounted it at an angle, it could grind away the copper. Hmm... It doesn't sound too precise, but it's an idea.