What are the "must have" tools for milling and turning?

[Washout]

I would add a bench grinder if you haven't already got one - nothing worse than a blunt HSS lathe tool when you need it sharp.

I also have a morse taper drill bit chuck (robbed from my pillar drill) and some of my larger drill bits are the morse taper type (normally followed up with a boring bar operation).

Also if you do tube work then a morse taper with a 3 or 4 jaw chuck for the tail stock so you can hold long objects (I still need to get a travelling/steady rest for my lathe).

One thing I have found is that no matter when I think I have got everything, a job will crop up, which needs something new to do it with ;)