I like ER collet chucks and have several sizes. I find on the wood lathe, the ER32 size collets are flexible holding devices for round things between 1/8 inch (3mm) and 3/4 inch + (20 mm).
It takes a lot of collets to cover the range and the sets from Jerry Beall or CUSA cover the 1/4 inch basics (1/4 - 3/4 by 1/8ths) leaving gaps.
I went to EBay and got a metric set for under $100 to cover the range.
I can turn aluminum and brass on a wood lathe and lathe file steel easily with round stock.
Mostly hold wood, rounded between centers.
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- Thoughts on collet chucks......