After a couple of weeks of emailing Khai at Novakon, I have decided to "pull the trigger" and order a NM-200. This will be for hobby use primarily, as my goal is to build a working radial engine (probably Edwards 5).
I am ordering the CD-100 upgrade with an integrated motherboard, which will hopefully avoid any Mach3 install and configuration issues. Because of space considerations I decided not to order the coolant system, so initially I will be using the machine without coolant.
I will need to decide on a CAD-CAM package. The mill comes with BobCad V21, so I will do some experimentation with that. I'm currently taking MasterCam training, so I am pretty new at CAD-CAM. However, I have taken courses in g-code programming, and most of the small engine parts I have made manually in the past I can program in g-code. So I'll get acquainted with the machine via hand-coded programs at first. I do want to be able to do some engraving and similar 2D work, so a package will be a necessity. CamBam looks interesting.
I'll try to update this thread with some photos when the machine arrives.
I currently have a manual mill with an R8 spindle and an air-operated drawbar. I suspect that changing tools manually will get old pretty soon, so I will be considering a quick-change system at some point.