I appreciate Greg's endorsement (thank you), but have to say I am not much of a source for info on this question. I know virtually nothing about machining principles, and mostly just hack my way through using my Taig for simple tasks like guards.
That said, I would make the following comments:
I agree with conventional wisdom to buy the beefiest mill one can. I definitely have Bridgeport envy, but lack the space or ability to get a bigger mill in my basement shop. The Taig has proven to be a much better tool than my other micro-mill (EMCO-Maier), and for the small stuff I do it works very well. If there is one thing I would like, it would be a DRO.
I would follow Greg's advice and get the ER16 collet version. Also get the 3/8" adapter for a chuck, then buy a good chuck like an Albrecht if you want one. That said, use collets for drilling wherever possible.
I would also consider getting the CNC motor and the ball lead screw even if you don't go the CNC route. More power, higher speed, less backlash. I forget exactly what options they offer, but you may be able to to buy a "CNC ready" version and add the rest later.
Greg is right about their vise, too. It's a drilling vise, in the first place, and a really poor version at that. I have been very satisfied with the Sheline accessories I have purchased. I would love to find a 2 or 2-1/2" Kurt-style vise, but have to date had no success.
A good VS drill-driver and socket to fit on the handle makes a very good hillbilly powerfeed.
As for CNC, I can offer zero help. Michael Kanter (adammichael knives) had a CNC Taig for awhile, but traded it off when he got his B-port. My opinion, though, is that the setup time necessary to convert a one-off design to code may make it easier to simply hack away manually, taking good measurements with the dials and an indicator as you cut.
Hope some of that helped. Sorry I couldn't answer your main question.