Hey, I am running almost that exact mill, I got mine from homier.com its cheaper and has R8 spindle that is more common.
all except mine looks a little different
and more pics here:
http://jfettig.wc101.com/cnc/
One thing, expect to spend $500 or more on extra stuff, so give yourself at least $1000 in the budget.
littlemachineshop.com is a great place for stuff for the mill,
jtsmachine.com has a great selection of end mills and stuff, be sure to get CARBIDE end mills vs hss, they last TONS longer and cut so much nicer!
I will suggest either the 3" screwless vice, or the precision milling vice from littlemachineshop.com, the precision milling vice if you plan on rotating the vice to do angled cuts.
The end mills and stuff youll want are a 1.25" indexable end mill(maximum) for facing and stuff, youll probably want 1/16" through 1/2", no bigger than 1/2" unless you brace the column really well.
Youll definately need a good collet set, or end mill holder set. Milling with a drill chuck is a major no no.
The only few things I dont like about them are the travel on the Y axis is too little I think, and the Z axis rack and pinion with the worm gear fine feed has a lot of play, Its something youll have to get use to, have to lock the head in place while milling, and when I plunge and raise the head with that I had to hold up on the drill press style thing for raising and lowering the head fast. thats mainly to get rid of the backlash that would cause it to drop into the work peice or be inacurate.
Thers so much more info on them,
I think that they are worth the money, especially if you dont have room for anything bigger, If you have room for something bigger and have a little more cash to spend, I woudl get a mill/drill, like what they have a grizzly with the 1hp motor and the round column. They are pretty good, and much much bigger.
hope this helps, I know theres a lot to learn about these, and I know I have a lot more to say, I just need to think of it
-edit- typically you want 2 flute end mills
Jon