I have a 2508 also. Lovely piece of kit, good as a milling machine, superb as a drill. Large throat capacity and orientation is maintained as you rack the head up and down. I'd love a motor drive for this, though!
It is so useful that the speed is changed just by levers, no fiddling about with belts.
I'd be interested to know how to fit ER collets on the mill side. Mine came with very good but very special collets, with a long low angle wedge that gives tremendous grip. But some are broken. I did track them down (can't remember the type now) but they were over £100 each.
M3 taper yes but does not have provision for a drawbar. You need to bang the taper in well, and be careful about cuts that tend to pull the tool out of the taper, e.g. large diameter drills in metal. In practice this has not been a bother, since one is normally apply downward pressure.
The only disadvantage in the design is that there is no central T slot in the table, just one on either side of centre. This make it a bit fiddly to add some accessories, e.g. rotary table that expects two inline mounting points.
It is heavy and awkward to manoeuvre for sure, and does not split down easily. Get help moving it up those steps.