In the almost twenty years I've owned a lathe, I've used the faceplate once. I've never turned between centres. I only use the four jaw when the work isn't round. The three jaw chuck the lathe came with is fitted for nearly all my work. I do have an ER32 chuck, which I use when suitable parts need to be mounted in the mill.
My WM250 has a 3 bolt flange, as did the min-lathe, so chuck changes are quick and easy.