I don't think that capability indices would be very helpful in this application, mainly due to the lack of meaningful specification limits. A control chart would be useful if you were looking to identify special causes for machine downtime, but I think that unless you have a very large number of machines and a lot of downtime, you'd have to wait a long time before the chart would become useful for making predictions. It's certainly a good idea to track downtime and try to discover the causes of it so that you can improve your preventive maintenance efforts, but I'm not so sure that control charting will be helpful.
This method would clearly highlight whether changes in preventive maintenance strategies were effective. It would also be more "line of sight" and actionable than Cpk.
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