I run
Motorex Ortho NFX 10 in my Haas super mini mill. (link is to NFX 15, as it appears that they may no longer sell the NFX 10).
The machine is in my garage. I do primarily prototype work, and once in a great while it might be a small lot of parts. I'm semi-retired, so I am most definitely NOT a production shop (or even a "job shop").
In this scenario, I'm extremely happy running oil. The machine looks great, and all my tools, holders, and vises look brand new, despite having been used for around 3 or 3.5 years now. Surface finish on just about any material I've cut is terrific, and drilling, tapping, and form tapping all work better than with coolant. And of course... I can shut the machine down, not run it for a month or more, and everything is still as it was... no evaporation, a barely noticeable amount of oil on all surfaces, so nothing rust or even gets stained.
If I was running production work, there is no question I'd be running coolant, but for what I'm doing, oil wins hands down.
PS: I have a big halon extinguisher sitting right at the machine, and I never run unattended. Of course I never push the machine hard either, as I'm rarely ever in a hurry.
PS #2: After my experience on this machine with oil, I think if I had a production shop with numerous machines, I'd always keep one machine with oil in it for certain/difficult jobs.
PM