If correctly attached it should be more secure. The last time I looked, two of the three locking screws had dropped out of my own chuck, sucked up with the shavings no doubt!
I agree though, it will be a bit of a faff taking the locking ring on and off.
I expect many new lathes will now come with this spindle thread?
This is my old AT1416VS.
And this from a German website of a similar type lathe.
It looks like the old M33 x 3.5 chucks will not fit ASR-Eurolock spindle lathes.