Most will laugh at how I use my square collet block for but here goes lol . I keep the 4 jaw chuck on my lathe most of the time so if I’m doing things that might want to use a collet chuck for ( which I don’t have ) I just stick a ground rod in the collet , use soft aluminum strips on the chuck jaws , indicate the pin , then I’ll use whichever size collet I need . Comes in very handy for the stuff I do . I have used it in the milling machine but not nearly as much . Since your not happy with that block it would work fine for that purpose