My George Taylor comes with a drawbar...A bit of a recess, fine.
But, generally long reach tooling is for that purpose, a long reach. A long cut tool is for larger cuts.
You should never choke any cutting tool so that the cutting edges are held by the collet.
The only reason I can see for a hollow spindle is to accommodate a drawbar, and if you're using a face-retained system it's superfluous to bore all the way through.