Derry;
If your cnc controller board uses a "charge pump" circuit, triggering it with the e-stop line will immediately stop the stepper motors and (if connected that way) the spindle.
Your computer will also know that the lathe big red button was also hit.
With the "charge pump" circuit enabled, and the e-stop line directed to it, I don't think there's anything to be saved by actually shutting off the power. Others may disagree, of course.
My mill uses the Gecko G540; hitting the estop will stop spindle, steppers every time I've tried it, and of course, the e-stop is handled in the G540 controller, so even if you are having software issues on your computer, the cnc machine will step down.
BTW – I use LinuxCNC on my mill, and it has been 100% reliable – incredible bit of software.
Another JohnS.