I've been checking out mods to knitting machines online lately and going to take an Arduino class this week to see if I can perhaps one-day mod my own... found some interesting projects (where have I been??)
A student duo made a rocking chair powered knitting machine
Some have replaced the older electronics for color work. here
as does this one
And this one replaces the punch card (one of the things I'd like to do)
So gratifying to see people coming up with ways to bring these older machines into the new age!