Hi Fizzy
Your tools will last longer particularly HSS tools. Particularly end mills, you are considerably less likely to burn the cutting edge. and you can increase your speeds and feeds.
Coolant does tend to damage the paint on some machines as can be seen on second hand machines on EBay.
If you use your machine every day the coolant tends to stay sweet, for want of a better word, smelling. If allowed to lay dormant in the mill sump for weeks at a time it can get stinky (I am particularly referring to water emulsion coolants) anaerobic bacteria is the problem, you can get bactericide from the coolant supplier to counter this. Running the machine each day oxygenates the coolant keeping the anaerobes at bay.
regards
John