Why do I need collets for my mill? Isn't a chuck a lot easier and faster?

I will add that I paid 80 bucks for my brand new ETM/Iscar collet chuck on ebay,not a whole lot more than China made, deals are out there, have to find them, Craigslist has found me excellent deals, shops go out of business whether they retire or didn't make it and have fire sales.
 
If drill chucks were perfectly okay for milling, shops everywhere would be using them for milling. Mills wouldn't have collets, just a chuck... Your friend seems to think he knows better than than an entire industry, an industry that strives for speed in production. If his hypothesis was indeed the case, that would be that way its done.
I am no "armchair expert" on the matter, I have done milling with drill chucks, on drill presses no less. sure it can be done but its far from ideal.
 
Chucks have one job, for axial load applications. Drills, reamers, piloted counterbores, countersinks, taps, etc.
 
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