I also removed the coolant pumps on some of my machines, where it was getting in the way.
Water based flood coolant on machines that are only used occasional, is more trouble than good IMO, creeps into slideways, spindle bearings, below vices and into dividing heads/rotary tables/universal tables and does all kind of bad stuff there, like corrosion and displacement of way oil.
I use old way oil or water based coolant from spray bottle when necessary, otherwise dry. On aluminum and on deep slots, flood coolant would be kinda nice, but not worth of having a messed up machine after a while. Cleaning below a vice after coolant from spray bottle isn't that much work, flood coolant gets everywhere, so you basically have to strip down a machine, if you want to get it out of every corner.
Mist coolant would be nice, but needs compressed air and costs quite a bit AFAIK, so haven't installed it on any of my machines, yet,