I am not sure on the size requirements for the J-2, but there are collet chucks available for lathes with about any spindle size and type. I got a 5-C type for my lathe because then I can share the collet set with my mill, and my spin indexes. Collet chucks are very accurate, but do have some limitations. If you have any equipment that already has a collet chuck, it might be cheaper to stay with the same type, so that you can use the same collets on all of your machines. Here is a link that explains when to use a collet chuck vs a scroll chuck-
http://www.mmsonline.com/articles/050203.html