The VMC turrent is more an amalgam of different types of mill designs, the round common will be less rigid then a square column. It seems similar to the Clausing 8520. The reduced travel in all axis would be the clincher, typically people run out of travel in the Y and Z axis quite quickly. I have a full size knee mill and often am at the limits of travel say for manual tapping and drilling/milling. Having a short Y travel also will limit the vise size and as you may have interference of the vise on the Y travel when moving toward the back. If your work envelop is small then the VMC might be an option, but most people using mills quickly run out of travel.
On the VMC it appears that you need to change the belt positions for the speeds, for most people it is a PTA to do so, using a VFD, you loose the mechanical advantage and Hp below the motors base speed. Belt drives will be quieter than gear drives and may have a higher spindle RPM. The weight difference is probably in the stand for the VMC. Not sure if there are any other mill options/dealers, ideally something like the GH with a 2 speed belt drive and variable speed in a bench-top square column would be more ideal. Typical knee mills would be significantly larger, heavier and more costly. There may be some used smaller knee type mills similar to the Clausing.