Trion,
Normally, tapping heads come ready for a certain range, so should be perfectly OK to carry out tapping within that range.
You have to look at what you will be doing in your shop, and buy to suit.
I found that most of my tapping range requirement is between 5 and 10mm, so I went with that. It will hold a slightly larger 12mm tap and does work OK, but for smaller sizes, I would tap either by hand or using my tapping stand, with which I can quite easily and safely tap down to 1.5mm, never having to go any lower, but I suppose it would do just as good a job.
Tapping heads come into their own when you have a lot of holes to do, and IMHO, would be a waste of money if you did just the odd one or two.
Also, I do have a 3/8" drive butterfly pneumatic wrench fitted with a tap holder, and that works absolutely great for items you can't get under the mill spindle, in fact last week, I used it to tap out some holes in the aluminium framed fabric canopies around my house, standing at the top of a step ladder. I don't think I could have done it if I was trying to do the job by hand, they were done in a matter of seconds, well before I hit my pain barrier.
Bogs