While I understand your concerns with some tool holders, you are giving some bad info.
First, you do not need Weldon Flats to use a tool holder with an endmill, they will hold just fine without them. Only used a few Weldon Flat endmills in my life and most were HSS and not carbide.
Second: A 1/2" endmill is not 1/2" either in the flutes or the shank. Below I have posted the specs on three different brand name manufacturers 1/2" endmills. Mounted in a regular tool holder they are just fine. The holders tolerance is very tight and allows almost zero slop in the first place. You have just two surfaces that come into contact with each other and can promote error.
On a collet holder you have a minimum of three surfaces that mate and can cause error. Also any one leg of the collet that does not align properly (say has a build-up or a chip in there) will throw it off. I'm not saying that I do not use them, I certainly do. I'm just saying they are not perfect either.
Shrink fit is very nice, but not for frequent tool changes and job shop type work necessarily. They are much more expensive and you need a heat unit for change. But, you can see I have one for deep mold work.
So it is a matter of choice with most people, but please don't disregard regular endmill holders. JMHO
Mike
Mill Diameter Tolerance (Decimal Inch)+0.000 to -0.002
Shank Diameter Tolerance (Decimal Inch)-0.0001 to -0.0004
Mill Diameter Tolerance (Decimal Inch) -0.0000 to -0.0020
Shank Diameter Tolerance (Decimal Inch) -0.0001 to -0.0004
Mill Diameter Tolerance (Decimal Inch)+0.000 to -0.002
Shank Diameter Tolerance (Decimal Inch)+0.00000 to -0.00043