2MT vs ER-16

First, the clamping of MT2 cannot be established as to height: the draw bar force will continue to suck up the tool as long as you keep tightening it. Loosening a MT2 is harder too. It is easy to get both metric and imperial collets for ER series. the clamping force is better on the ER. And more.

You are best off in R8 if availability of tools and versatility is concerned. Taper 30 is more rigid, but only available in larger machines....

You are comparing apples/oragnes, however: the ER system was developed about 70 years after the MT system, and the engineering is an improvement over the MT system.
 
The only difference between the mills is the spindle, the er spindle is most likely more precise and more costly to produce.
the mt2 spindle most likely has a little more runout than the er spindle.

IMO,
for that size milling machine, i'd want the higher precision and greater grip strength of the ER system
 
ER collets have a wider gripping range than MT as well, so a set of metric will also hold imperial cutters securely, e.g a 9-10 mm will grip a 3/8 (9.45mm) endmill or drill, with the ER you can eliminate the drill chuck and gain working height too.

Dave H. (the other one)
 
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