I've been scheming how to put a real collet on my dad's red lathe
(PRC). It has a 1" bore and an MT4 spindle. Three options seem to exist:

Bison 5C collet chuck
About $300 for non-Set Tru, $100 for a 1-1/2x8 adapter plate
Plus: I can chuck a 1" barrel through it, or up to 1.125" into it.
Chuck is wrench operated

Kalamazoo 1CC collet chuck
About $300 for it, 5C fixture, use in 3 or 4 jaw chuck
Plus: Same as Bison 5C

Drawtube
Maybe $200
Minus: The drawtube cuts down the pass-through to less than an inch
3C collets only go to 1/2 inch
5C collets would take one heckuva adapter...

Comments? Derision? Disbelief?