Hi Peter,
You are on the right track, I have standardized on two main fittings, the no 2 morse taper and the Myford lathe screwed lathe nose. I have got the same MT and nose on my lathe, milling machine , rotary table, dividing head, and my tool and cutter grinder. This enables me to turn a part to size, remove it from the lathe while still in the chuck, and screw it onto any of the other machines or accessories without losing concentricity. I for example can turn a gear blank, take it to the dividing head, set up on the mill, and cut the gear without removing it from the chuck. The combinations are endless, in my opinion it is the best move I ever made, for time saving and accuracy in the machine shop.
Cheers David