Yeah the extra stroke won't hurt you in the direct acting floating drawbar, once it maxes out and compresses the bellevilles it won't have
any room to expand.
The way it works is the air cylinder shaft extends, makes contact with the top of the drawbar, the lifting plate that's attached to the air cylinder rises, it makes contact with what we call a tophat (a flange that sits on top or screws on to the top of the spindle, it's wide enough on the flange to support the bellevilles and your drawbar goes down though the bellevelles and tophat into your 3/4 collet) as the air cylinder shaft keep extending, all the clearance is taken up and the only thing left that can move is the bellevilles. They compress, the drawbar pushes down opening the collet and releasing the tool. If you have 1250 lbs of force you'll be able to use these bellevilles like on the X2 that have a working load about 650-750 lbs. you need the extra force to account for friction and compressing the bellevilles past the working load to have enough drawbar movement to open the collet, doesn't take very much, less than .050.
Belleville Disc Springs - Metric - Springs Washers & Disc Springs | MSCDirect.com
Yes the quill stays locked for cnc mode, it's basically just for manual drilling.
Hoss