Mmm, interesting - I hadn't realised the software was that reasonably priced. I think I'd seen figures mentioned over £1k, but perhaps I'm confusing it with something else. Boxford maybe.

In terms of tool holders, the ideal of course is to find a machine that comes with several included. As you say, if they are £80 a pop, then it could easily become too costly. I presume you could just get a suitable ER32 collet chuck though, if you accept that you'd need to manually calibrate Z height each time you switch tools. That's what I do in the router, so I don't see that as a deal killer. Depends on what you are used to I suppose.

One further question on the Novamill if I may. I just wanted to check that machining mild steel is well within its capabilities - assuming sensible sized cutters and feeds of course?