Of course it is a No, No to some people,
but on a 1/2hp machine a good drill chuck has ample holding power. If it is an integral shank chuck and it is held in the morse taper with a draw bar then it will work fine. I have even held milling cutters, and taps, in a good quality integral shank chuck on a CNC mill. It is necessary to be gentle with feeds but that is all.