Sherline and alike are very small mills. The advantage of Sherline is that you can get it with ballscrews if you intend CNC conversion in the future.
Throughout the years I changed all kinds of mills--micro-mill, mini-mill, heavier Chinese mills with round and square columns. Finally, I stopped with Clausing 8520 knee mill. It is not a bench top, but a little Bridgeport brother--ideal size for a basement, or garage--if you take it off the base two people can easily put it down into the basement. It has a MT2 taper (which used in some Bridgeport heads, as well), but I heard they were also made with R8 heads. This is a very accurate, tight, and reasonably rigid little machine. Once you learn how to deal with backlash you can totally rely on the dials (including on the knee) until you get your DRO's. In fact, a couple years ago I got Anilam glass scales and still did not install them, because the dials are so good. Unlike Chinese machines these give you perfect square cut, good parallelism, and easy head tramming.
There are some similar mills from Delta, Rockwell, and some European models. We have in the shop a large few ton Matsuura CNC milling center with ATC, 1.250" ball screws, etc. and still I am using that little baby almost every day...
You don't need to use flood coolant--for what you are doing mister should work just fine. In fact, because it has a pressure air it blows the chips off the way and you get much nicer finish--often we use it with Matsuura, as well...
One piece of advice--don't buy Chinese cutting tools--get only quality stuff--Iscar, Garr, Micro100, Kenametal, Sandwik, etc. They are more expensive (not by much, though) but last much longer, are more precise, and leave much better finishes. You can take much larger cuts with those (but of course, you might be limited by the rigidity of the machine itself). Also, don't try to save on vise--get a good quality biggest one you can fit on the table. Get one with changing jaws--later you might find yourself working quite a bit with soft jaws.
For the rotary table it really depends what you want to do with it. If you need continuous cuts then get a rotary table (Sherlines 4" are good). If you need it just for perfect hole alignment, cutting the grill openings, etc. then I'd recommend an indexer--it is more precise and repeatable, and is cheaper. To get that kind of precision with rotary tables you will need to get perforated plates (and they are expensive).
Best, M