Hi Alan,
I would also ask what you intend to machine, and also how often? I don't use coolant on my Lathe, but do use cutting oil applied by brush as and when required, in my view coolant is good for some environments where high speed or big cuts are made.. Ie industry, where its also used very frequently.
reason I don't is also, having bought a Bridgeport mill which was using coolant, i can see what its done, tending to wash very small particles into to every place possible !, also a deposit of red rusty materials has been compacted in to oil-ways etc.. old suds oil is not very good, and does need frequent replacement, so that is why i ask how frequent you use it typically as a hobby / enthusiast its likely to be less than 10% of that in a industrial place, using it 5 days a week 8 hrs a day, they can afford to replace it every 3 or 6 months.. and spend the time to clean out the sump..
the choice is yours, but I just stick with cutting oil, buy in bulk and its quiet cheap, the last one I had was 20 or 25 Lt for about £65 inc delivery, and will last me for 10 years or more..
Something to think about.. Regards Mark