i am getting back into it so i could be off but ...
HSS will ok cutting nylon, alu, and brass
You may want to get a MT2 collet set, i have never used MT2 only R8 so i know little about it. but you don't want to mill in a drill chuck.
I would recomend looking on E-bay for things, but only if you know what your looking for. i am buying the last bits of tools i need from e-bay. you can get amazing deals if you know what your looking for and you know what shape it should be in and what to ask the seller. ( say your looking for a micrometer, one thing to look for would be carbide tips, another would be a brand name ie: Mitutoyo, Starrett, Peacock, etc)
Just do some research find a brand you like, its like any tool, some people like snapon, some like mac, some craftsman. it all depends. and some people jsut have a bunch of every thing and there is nothing wrong with that.
Buy it once though. It's no fun if you buy a tool and later you see that its a POS and you have to rebuy the tool again.