I think the spindles before 3U were plain bearing with a feed screw for downfeed/depth. 3Z should have the later cartridge style BB unit, with a lever to advance it.
I've never used the plain bearing/feed screw type, but have actively admired how well the cartridge unit and lever feed works and that it is sort of "intuitive" at least for me. What it means to the user is popping it in and out of contact with the work as you move to different areas or index the work as the engraving progresses.
As Ries notes, almost any tooling is worth more than the basic machines, so look everywhere and load up.
That said, i would not worry too much about collets so long as there is at least one. I use all (shop made) sleeves in the one 1/4" collet I own for anything smaller, and 1/4" shank tools for (extremely rare) case of going larger, say for wood or plastic milling. I also don't see the point (ahem!
) of the taper shank tooling, but then I never got any with any of the lots I bought. If it (taper tooling and collet) comes with the machine, great. If not, you are probably not going to need anything larger than 3/16" HSS rounds to make the engraving cutters anyway.
Second thought, though: again I am not familiar with most models, is the suggestion that some _only_ take taper shank? I would almost consider that a deal breaker.
The other tooling that might seem simple but is really nice to have, is a large selection of stylii. It's not difficult to make, but something of a nuisance to have to grind one every time something new comes along, or you want to do proportionate size changes, etc.
Other than that, make sure it's tight in all the linkage.
Good luck, you'll have fun if it is a good one.
smt