Okay so here are my deciding factors: 1. I don't have a ton of money and while I would really like that $1,000 floor stand Drill Press I just can't talk my Government into letting me spend that much. Facility upgrade allocation amount is probably around $200-$300, if I sweet talk. 2. It will only ever be used for this hobby and/or other really small projects so again I don't need anything fancy, just plain and simple. Any suggestions? I've looked at places like Lowes and Home Depot, but I'm not sure of quality, or even specs I should be looking for. Thanks in advance!
What would you use it for? Gun making? Or would you be drilling out heavier duty stuff besides Boat work?
Probably 99% boat stuff. Mostly working on gun making, but there are other boat related projects that could benefit as well.
You can get away with any drill press then. Whatever the cheapest one at Lowes/Home Depot will be more than sufficient.
I like the one I got mail order from harbor freight. Like Brandon said, pretty much anything will do for our purposes. If you can get one with the laser 'X' for where the drill tip is going to hit, that's useful.
Before you buy one, extend the shaft to full length and give it a bit of a gentle shake, to check for lateral movement. Lateral movement in a drill press is bad...those cheaper drill presses vary a lot in tolerance, even between example of the same brand, some are nice and tight, smooth to operate, some are downright terrible. Same goes for the vice.