Not terribly, it's the same game as anything else, choose any 2 of fast, cheap or precise.
You can make a heck of a good machine with some extrusions from Techno Isel, servomotors, drives, and a couple of weeks work. Of course the choice of spindle is up to the builder, I have a Precise 1.75hp watercooled 40Krpm spindle that I use. I have sources for a 1.5 hp spindle that has a VFD built in, uses ER25 collets and costs about $1500.
That's generally the lowest end spindle I'd reccomend off the shelf. With some mods, a 3 1/2 hp Porter Cable can work, with upgraded bearings, a better cooling system and balancing.
That would be aluminum though. There is a reason they make industrial machines from materials that aren't aluminum.