Why would you choose either ER32 or ER40 collet for PM-1022V?

Of course there is and it's been explained along the thread. 5C collets have internal threads for a depth stop. They grip only on one side, so they can clamp very narrow parts.
I use my Er40 collets for both lathe and mill.

I would go so far as to say “Of course I can do my work using only ER40 collets. And the evidence is all throughout my house and shop.”
 
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A 5C chuck wouldn't fit well on my 10x22, but an ER-40 did. Plus you need a whole lot of 5C collets due to the extremely limited clamp range. If you have the cash to get them all, great. I had to settle for one system and work with the drawbacks. There's only been a couple times that I would have really needed a 5C system. It's just a hobby to me, so occasionally I have to make compromises.

If I need to clamp a shortish piece, I use a piece of the same diameter stock in the back of the collet. That usually works well enough for most work.
 
I went with ER 40 on my 1022/1030. Wanted the collets to go up to the spindle pass through diameter. I've heard you can special order ER32 collets to get up to 1", but they are thin-walled. ER40 tooling is available from P-M, ER32 is not, so I just went with ER40.

I do wish I'd have bought the metric set of collets instead of the imperial set however. ER collets have ~0.040" grip range, and 0.040" is very close to 1mm, so a metric set will cover essentially every diameter through the collet range. Imperial collets however have some gaps in the diameters they will cover. At 1/16" (0.0625) intervals, the imperial set cannot accommodate diameters that are smaller than the 1/16" increments by more than 0.040". So a 10mm (0.394") end mill cannot be put into an imperial collet - a 3/8 collet is too small (0.375") and a 7/16" collet (0.4375) can only close down to 0.3975 before 'springing' the collet. (0.4375 - 0.040 = 0.3975) So, imperial collets sets are really not ideal if you want to be able to hold metric diameters of 5, 10, 13, 16, 21, 24 and 26mm without risking deforming the collet for pushing the range envelope too far.

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A 5C chuck wouldn't fit well on my 10x22,
?? I don't know what spindle mount a 10x22 has but on my lathe all chucks mount the same way regardless of what the front of the chuck is.
 
I went with ER 40 on my 1022/1030. Wanted the collets to go up to the spindle pass through diameter. I've heard you can special order ER32 collets to get up to 1", but they are thin-walled. ER40 tooling is available from P-M, ER32 is not, so I just went with ER40.

I do wish I'd have bought the metric set of collets instead of the imperial set however. ER collets have ~0.040" grip range, and 0.040" is very close to 1mm, so a metric set will cover essentially every diameter through the collet range. Imperial collets however have some gaps in the diameters they will cover. At 1/16" (0.0625) intervals, the imperial set cannot accommodate diameters that are smaller than the 1/16" increments by more than 0.040". So a 10mm (0.394") end mill cannot be put into an imperial collet - a 3/8 collet is too small (0.375") and a 7/16" collet (0.4375) can only close down to 0.3975 before 'springing' the collet. (0.4375 - 0.040 = 0.3975) So, imperial collets sets are really not ideal if you want to be able to hold metric diameters of 5, 10, 13, 16, 21, 24 and 26mm without risking deforming the collet for pushing the range envelope too far.

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Thank you, @Red96 . This info is very useful.
 
ER collets come in 1/32" sets, which gives less deformity of the collet than 1mm sets, and precision TIR typically is worse at the clamping extremes. Some ER collets are also for fixed diameter size as opposed to a range. The lathe is too small to have a D1 type chuck mount, and the bolt on mounts are a PITA to switch chucks.D1-4 chuck mount is much quicker and offers more chuck off the shelf options. A 5C chuck has about a 5" stickout from the backplate and large diameter making it a poor choice for such a small lathe. ER40 is often used on lathes because one is more interested in the largest diameter it can hold, but they were not designed to be used as such. On a mill, the ER32 is less bulky and easier to use for end mills say 3/4" end mills and smaller. So often preferred over ER40. Getting proper torque when tightening and ER collet is also very important to their holding power. A higher quality ER nut helps in this regard.
 
?? I don't know what spindle mount a 10x22 has but on my lathe all chucks mount the same way regardless of what the front of the chuck is.
My spindle is threaded. Some of the 5C chucks I've seen seem to have a lot of mass hanging far from the spindle. The ER-40 seems to have less stock out.

Anyways, I made my choice and chose the ER system, warts and all. At the time it seemed more economical, or that's how I justified it to myself. I don't regret my choice, it's working well enough for me.
 
Yeah. Definitely get a ball bearing nut. It's much easier to hit the right torque with those.
I could find only one brand and size of it on Amazon, which is Tegara ER32 Slot Style Ball Bearing Collet Nut. It looks good to me, but then I found this nut spanner wrench that I want to use on the collet nuts, but this Tegara nut will not allow to use that.

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