Thanks for the feedback. I've been looking into the suggestions today and am currently leaning towards a toroidal transformer and drives that accept AC so that I can drive motors at 60-65VAC (and am probably also leaning towards the 5.5Nm closed loop motors). From what I read today about unregulated power supplies, this seems like a good option, but I am still learning and have limited electrical experience, but am willing to take it on.

I'm currently searching for a reference design for a toroidal transformer - I'm willing to build one but need good guidance to help with the calculations, components, wiring, etc..