My lathe has a 5MT spindle, with a 5 -3 MT sleeve, so that then matches the 3MT in my elderly WARCO Economy mill.
Being an old machine, it has a round column, so changing the position of the head requires realignment.
A nuisance, but not insuperable. Sometimes the last drill used can be used as a dowel to maintain alignment while the head is raised or lowered (But beware of lowering it so that the drill cannot be removed from the chuck!) The other way is to fix a bracket to the head to rake a DIY store laser. This is aligned with a line placed on a wall about ten feet away, and you should then be within a thou.
Obviously, don’t look directly at the laser!
After tightening the head clamps, recheck the alignment; it is possible to shift the head slightly during tightening.
The tricks are as said, not to over tighten, (Morse tapers are self gripping so do not need to be very tight, not much more than nipped), and never clamp a cold taper into a warm spindle. The spindle will cool and contract onto the cold taper, and increase the grip.
Removal (Breaking the taper) will need a tap with a mallet on on a slightly slackened drawbar, or making up some form of extractor (I turned back, partially the nut retaining the pulley on the spindle, to take a plate, bored to fit the nut, and with two 1/4 BSF tappings for bolts in a plate carrying a 1/4 BSF forcing screw to bear on the slackened drawbar. Once tightened, even a really tight taper will break with a light tap with a mallet.
The newer machines have dovetail columns which makes head alignment after repositioning easier, and the R8 taper, being fairly steep is easier to break
H T H
Howard