Quick change spindle setups

I'm close to finished with the Z axis of my gantry mill, and starting to
think ahead to the spindle. I was going to use a Sherline spindle, but I
really am thinking about trying (somehow) to do tool changes.
I know there's really not much in the way of miniature quick change
stuff in the metalworking field, so turned to wood working.
Has anyone seen the Jacobs quick change collet chuck for routers?
Link is below:
http://www.jacobschuck.com/animation/jcanim.html#anchor799653

I'm thinking this might have some potential and wonder if anyone is
familiar with it and has any clue what sort of runout can be expected.
Unlike some building bench top machines, I'm not that interested in
cutting much metal, mine will be used mostly for plastics.
Do need to be concerned with runout when running .012 end mills....

Thanks,

Jon