Re: General Purpose Mill/Drill/Lathe Recommendations?
 

If you can, I suggest quick-change collets. If you have any machining companies in the area, check if they're getting rid of any tooling that they consider "old" for their purposes. There's companies in my area that change their tooling very quickly because of the precision required for the parts their contractors require. Since most things FRC teams make don't require really strict tolerances, you might as well find their old stuff useful. Just make sure you check the teeth for chips.

Re: General Purpose Mill/Drill/Lathe Recommendations?
 

You might want to check with local machining/fab outfits. You might get some donated services or some scrap materials.

Pro-Type (Sterling): http://www.pro-type.com/

RBM (Sterling) http://www.rbmmachine.com/