Neil,
Available quill travel is a problem alright. It is tough to beat the convenience of a VMC bed mill for that very reason.
However, it is often possible to purchase toolholders that will extend the reach of small tools. And, it is also possible to purchase morse taper adapters to fit your spindle. Then, you also purchase what are known as 'drill drivers' which are a simple morse taper socket with a split cut lengthwise. A person can then buy one of these drill drivers for each size of straight drill shank that you will use. The advantage of this method, versus using a chuck to hold larger drills, is that the overall length of the toolholder plus drill will be 2 or 3 inches shorter than when using an arbor mounted drill chuck.
First you get good, then you get fast. Then grouchiness sets in.
(Note: The opinions expressed in this post are my own and are not necessarily those of CNCzone and its management)