Im curious if there are other choices out there for Hobby type CNC Mills other than a Dremel or a Laminate trim type router. something reasonably priced. I have seen some liquid cooled $1000 small spindle motors and those are out of the question. I am talking something in the sub $100 range or possibly a bit more but that ball park anyway.

 And what Laminate trim routers work well? any that enable easy mounting etc?

Right now I am using a Dremel 395 to get my machine running and I plan to do PCB milling, some aluminum panel engraving but also some aluminum panel cut outs. where the panels maybe 1/8" thick. I would assume through hole cut outs would need to be done in many steps, a little bit at a time of course. My machine isn't real powerful or anything. but i am wondering what alternate choices there are. it would be nice if one day i could do 1/2" thick aluminum panels but that may be pushing it with this machines capabilities.

In that price, try a variable speed Bosch Colt. You can increase it's precision with collets from Precise Bits.
http://www.precisebits.com/products/equipment/bosch_colt_collets_nuts.asp#Bosch_Colt_Collets

I use a few different high speed hand grinders, both electric motor and air diven, for engraving, fine milling work, and peck drilling small holes.
Here is link which shows a few different ones.
http://www.machsupport.com/forum/index.php/topic,12484.msg88231.html#msg88231

The top one shows a handpiece from Grizzly. I purchased the motor and two hand pieces, one with collet and one with a chuck, modified the
handpieces to remove play and was around $100 total when it was on sale. The modified handles are better than a lot of name brands which cost a lot.
Made a few genric holders so they can be used on the lathe, mill, engraving machine  and sensitive drill press.
 All depends on what you want to do, but something to think about.

RICH

Good link Gerry and Zero Cool should have a read of some of the info on that site, like spindle runout.

The sweetness of a poor spindle will leave a  bitter taste if you start breaking toolling. Small end mills are expensive
 and break in a heart beat if you have backlash and feed too fast.

RICH

You might take a look at wood routers. Look for one with a collet type bit holder.

I have a Dewalt- the spindle is almost 3/4 inch in diameter and has a very nice collet just like a milling machine. AND it releases without having to tap on the spindle like some collets I have used.

The price might be a bit over $200 but it is rated 2HP and I have abused it for close to 10 years now and it is still solid.

Has a variable speed pot on the router (nice for working in plastics) and a soft start. I got mine as a factory reconditioned unit.

There are a number of manufacturers who produce similar units.

I have a Kress, can't remember which model but I think it's one of their 800watt ones, it's got a variable speed wheel on the top.

I do V carving etc in wood and plastic and when the cutter has to go deep to do a large width you can hear the load coming onto the motor but it doesn't slow at 800mm/min and that's with 1/2 inch 45 degree V bits.
6mm bits don't bother it at all, even on 6mm deep cuts.

Their also meant to be quite well built but I can't comment on that but it's way quieter than the cheaper ones I've heard.

Steve