I start at 40,000 steps per inch, then i use the calibration part of mach 3, after that i like to check it with a program that cuts a 1 inch by 1 inch square with an 1/8" bit i then measure the square for exact size, i then go back into the calibration part, tell it to move 1.125 inches on the axis when it is done moving the axis and asks how much did it move, I enter 1.125 + or - the error in the 1 inch square, example : if the 1 inch square is actually 1.011 on the x side, when calibrating the x stepper and it asks how much it moved i will enter 1.125 + .011 which is 1.136, I have achieved the most accurate setup using this method.
Using the calculations which come too 40,000 steps will get you ballpark but no 2 steppers, lead screws or machines are exactly alike.