[asid61]

Originally Posted by matthewdenny

So lets say I have a 3/8" carbide end mill. Do I just place it in the 3/8" B&S Collet and start milling?

What about a 3/8" Drill bit?

Link to collet set: http://littlemachineshop.com/product...ProductID=3011

Place it in the collet, stick it in the spindle, tighten the drawbar, and then you're good to go.
For drill bits, it varies. For fractional sizes that you own the collet for, you can use the collet. Otherwise you'll need to use the drill chuck.