Forty years ago I worked in a shop that was using CNC mills to cut circular pieces from aluminum plate... except that they got a little joggle in the part and made scrap when there was a hard spot, or the ways got dry, or for some other reason the motors missed a step. That's why commercial CNC mills haven't used open loop steppers in many years.
Since then, I have messed with steppers a bit myself, and noticed that the current waveforms change a lot when the motor misses a step. So, theoretically, you could add a current sensor and a fast microprocessor and some software that I don't yet know how to write, and you could detect that you had indeed lost a step... except that I haven't figured how the detector would know that you've lost _two_ steps, or N steps. So you still wouldn't know what had happened exactly, only that you had already produced some scrap. Lots of effort for useless information.
Buy the encoders.
Mike Halloran
Pembroke Pines, FL, USA