I initially got the ER32 so I could use for the collet blocks and with a collet chuck on my lathe. I later found that a decent full set of R8 is expensive, their clamping range for each collet is extremely limited, they take an awful lot of Z height to swap out and messing with the drawbar is an arse when the quill is extended. With the ER collets in, I can swap tools with little more than 1" of Z clearance if needed as the tool can be pushed in and the collet rolled out of the chuck. Useful when lacking Z clearance and saves a ton of cranking the knee for a collet swap, so worth the loss of 1.5" Z in most instances!
I do use the R8 for the few larger 3/4 shank cutters I have, slitting saws and suchlike. Everything else goes in the ER for convenience. I've found I can swap drills out almost as quick as the Jacobs, so it often saves swapping that in too.
For what I do, a small range of well chosen R8 collets and full set of ER32 is absolutely spot on and actually economical.
The attached may or may not be helpful to you. Like LoFi, I too run ER32 collet chucks on my knee mill. Also, a power drawbar on the mill really take a lot of the grind out of tool chaning. I also use ER40 to interchange between the lathe and mill.
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