I think an interesting modern take on the Gingery machine, would be a homebuilt machine tool; built from epoxy-concrete. Linear rails, servos, fly-by-wire controls with force feedback.
Machine form factor would be a la Mazak Integrex but much smaller and fits in a two car garage. Total envelope would be 8"x8"x8"; high spindle speeds w/ low depth of cuts. That should compensate for the total lack of stiffness :)
The main thing about the small epoxy granite milling machines is that they have stupidly (30K RPM+) fast spindles--and generally have through coolant/air. That way, the cutting edge removes material before significant lateral forces develop and compromise accuracy due to lack of rigidity.