Craftsman/Atlas Drawbar/Collet Chuck advice?

Well, the shorter sleeve is obviously the way to go. It's easier to make and doesn't take up as much room. However, trading your almost complete 2MT set for a 3MT set plus some cash difference would probably make more sense. Most sets that I have seen for sale are 7 pieces of 2MT and 11 pieces of 3MT. Your set appears to be missing the 3/16" collet. MT collets cover 1/8" to 1/2" and 1/8" to 3/4" by 1/16" increments. The clamping range of MT collets is about +/- 0.005" so not always usable for work holding.
 
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