Here one to try,
Example to draw a ER32 collet holder: Draw out your largest circle say 32mm dia within draw smaller circle say 25mm dia, draw another circle say 17mm Dia, draw a vertical line 9mm long starting top of largest circle down towards centre select and circular copy this say 400 times ( the more lines you copy the smoother the finish) x 360 degrees.
Select smallest circle "pocket toolpath" to full depth say 36mm,, select all circular copied lines "Fluting tool path" run preview job done.
Hope it helps.

Phill

Click image for larger version. 

Name:	ER 32.JPG 
Views:	836 
Size:	88.0 KB 
ID:	28057

Click image for larger version. 

Name:	Fluting toolpath.JPG 
Views:	810 
Size:	43.3 KB 
ID:	28058

Click image for larger version. 

Name:	Pocket toolpath.JPG 
Views:	789 
Size:	56.0 KB 
ID:	28059

Click image for larger version. 

Name:	cutting taper.JPG 
Views:	832 
Size:	37.7 KB 
ID:	28060

Click image for larger version. 

Name:	ER32 taper.JPG 
Views:	775 
Size:	33.2 KB 
ID:	28061