The caveat with a belt drive/electric variable speed drive is you need a bigger motor to cover a wider speed range and as a minimum need at least two speed ranges. CNC is based on much higher RPM's and typically smaller cutting bits, so a single speed range may be acceptable. If used in a manual mode, and finances permitting then the PM-727MV or PM-30MV would be good choices, the latter can use a smaller motor because of more gear ratio choices. Changing belt ratios can be a bit of a PTA, on my lathe I always left it in one range and then ended up with a single belt ratio. The PM-727MV is relatively quiet according to owners, need to change the oil, but I have heard of no long term reliability issues. If CNC conversion is in the future then a belt drive is the only way to go, I would opt for the BF-30 with the larger motor/220V for a future conversion. The limiting factor on the belt drive heads will be the maximum RPM achievable with the stock bearings.
Space wise, at the end of the day, it is a nominal foot print size difference between the PM25 and PM727, going from a 13" to 18 1/4" maximum spindle distance from the table and having an extra Y travel of 1.5" are significant factors in favor of the PM727. Once you start using these machines, you get a much better feel for the need for increased travel. Also adding something like a DRO scale on the back of the saddle you can loose another 1" or more of Y travel, so you have a very limited milling work/travel area. It all boils down to what you plan on machining on your mill, the PM25, PM727 and PM30 are all very good choices withing this price range. The variable speed versions offer a lot more flexibility for dialing in the speeds. Best of luck whatever you choose.