I have to say that while a floating reamer holder would probably be best. I have reamed 10's of 1000's of holes in my 31 year career as a Tool & Moldmaker with no ill affect and 98% of them or more have been done with a Albrecht drill chuck.
I see no real reason to get carried away as a hobbiest buying and building a tool that most will gain no better results from. Some simple rules for reaming, to fast of spindle speed will generally result in a under sized hole, choking up on the reamer will generally result in the hole being oversized especially at the mouth of the hole and sometimes has chatter as it enters the hole, if your reamer is 6" long hold only the last 1/2"-3/4" of it and it will float right into the hole, use a similar method for shorter smaller reamers. If you want great results drill the hole within .010"-.012" of size and then bore the 1st 1/8" of depth to within say .005" and then follow it with a reamer, the hole will be straight, in location and on size. The above would be for say any hole over 1/4", adjust accordingly if smaller.
Remember most all reamers have a chamfer'd lead that helps find the drilled hole, once the lead has it the reamer will follow the drilled hole. Heck I would worry more about the crappy foreign made reamers than I would a drill chuck or collet. YMMV
I see no real reason to get carried away as a hobbiest buying and building a tool that most will gain no better results from. Some simple rules for reaming, to fast of spindle speed will generally result in a under sized hole, choking up on the reamer will generally result in the hole being oversized especially at the mouth of the hole and sometimes has chatter as it enters the hole, if your reamer is 6" long hold only the last 1/2"-3/4" of it and it will float right into the hole, use a similar method for shorter smaller reamers. If you want great results drill the hole within .010"-.012" of size and then bore the 1st 1/8" of depth to within say .005" and then follow it with a reamer, the hole will be straight, in location and on size. The above would be for say any hole over 1/4", adjust accordingly if smaller.
Remember most all reamers have a chamfer'd lead that helps find the drilled hole, once the lead has it the reamer will follow the drilled hole. Heck I would worry more about the crappy foreign made reamers than I would a drill chuck or collet. YMMV