No. Most 1/2" capable routers come with either 2 different sized collets, or as in the case of ny Hitachi M12V, they come with a 1/2" collet and a 1/4" reducer bushing. You can get reducer bushings to go from 1/2" to 3/8", 8mm, 1/4", and 6mm. You can also get one that goes from 1/4" to 1/8" for bits that normally fit into a Dremel or Rotozip. Most of us have collections of both sizes, 1/2 and 1/4, and I also have some metric and 3/8 bits.
Dave, Woodhedf that is, I've never seen a lift that would use anything other than just a motor. A plunge router basically has it's own lift. When they first starting building lifts none of the plunges had above table adjustment which was probably the impetus for designing lifts. Many routers now have above table adjustment which makes a lift less desirable to shell money out for. I'm curious how your lift works. No one in my area handles Jessem products so I haven't come across one.
Someone I consider a master woodworker once told me that a master woodworker is not someone who never makes mistakes. He is someone who is able to cover them up so that no one can tell.