Has anyone done anything with shrink fit tooling?

I have a router and am sick of setting up tool bits with the collet. I have seen the Taig and Sherline end mill adapters but don't think that a system which involves grinding a flat spot on the tool and using a set screw will work at 20,000 plus rpm.

Hence the shrink fit idea. If an adapter could be made similar to the Taig and Sherline ones but used as a shrink fit, that'd solve my problem.

If the idea has merit, what should I make the adapters out of? Should the use the shoulder on the spindle for reference (a la Taig and Sherline adapters) or should they use the collet taper?

Dropout