Yes Its great to get out in the garage - a change from the stress at work....The lathe is just right for me not too big. I will have to learn to make and sharpen tools - I found 2 boxes of new blank tools 3/8 round and square. I'm gradually mutilating my way through the ready to go ones :)
I never thought about making bushes - So If I were to buy one I could get maybe a 1/2 one and all the tools that I have are smaller
I will still use the drill chuck at first because I have got it and the accuracy is not as important as the ease of use while I'm learning, I need to get some time in using it - However I have noted what everyone is saying to me and will upgrade to a collet chuck

Thanks Shaun