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I'd seen those years ago and wondered whether they were any good(?).
Now, I just don't see the point; my main reason for using a DP (rather than hand held drilling) is for reproducible accuracy.
New bench top drill presses are so inexpensive that any other option seems a bit unnecessary, to be kind.
I posted a link to small drill presses, here, a few days ago. Here it is again...great info!
Drill Presses & Chucks
 

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Lee Valley sells one made by Milescraft that might be a little more accurate. Instead of trying to mount your drill to a frame it has its own chuck and you use your drill to power it. Drill Guide - Lee Valley Tools It's about $50 so unless you need the portability that this tool offers (such as drilling holes in the middle of a bench or sheet of plywood) then I would also save a little more money and get a benchtop drill press.
 

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Heck, if I ever wanted something like that I'd make one. Drill Press: 4 Steps If you don't like that particular style, plenty more free plans out there.
 

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Had one. Performance was fair at best. OK if you are looking to just drill a hole. If you looking to drill accurately. forget it. Problem is you set it up once, use it once and there was a good chance you'd have to set it up again....and again, and again....
 
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I think you can get a little benchtop drill press that will very much out-perform the hybrids for just a bit more. Maybe something like a WEN 4208 8 in. 5-Speed Drill Press for about $75. It sure gets decent reviews on that giant online store.
 

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Agree with the "had one, save your money, etc." comments above. I was given one back in the 70s and it was wobbly at best.
 

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I had one of these toys for a couple of minutes, then got a cheapo Delta benchtop that was pretty OK and only about 90 bucks. Gave it away to the guy who bought my old bandsaw and currently have a WEN 12 inch benchtop, which has a much taller post and longer quill travel. WEN has a smaller model mentioned already. The tall one has a continuously variable speed without changing belts. A tachometer tells you the speed. Identical to the more espensive Jet down to casting marks on the body. I ordered mine at HD and got free delivery.
 

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Discussion Starter #12
Thanks everyone for the helpful replies. I looked at the HF and 8” WEN reviews (the 1 star ratings) and clearly anything below a $100 seems wobbly and not worth much. And I can’t spend that much now.

Theo: Have u actually tried making this and seen how accurate it is? I like the idea of using two hose clamps. My idea was to use the drill press stand and augment it with nylon straps that can be tightened and leave one drill in the press permanently. Bill, is the wobble in the mechanism that moves up and down or is it because it’s difficult to secure the drill to the stand? The first indicates a manufacturing defect - in that case I shd make my own. The second might be possible to fix with straps. Jon, Stick, if u could not buy one, do u think it’s possible to make one that’s reasonably accurate? Lets define accurate as off by a max of 1/32” thru 4” of hardwood (roughly 0.008”/1”). The other option is to get a mountable motor and chuck (which may eliminate wobble) and build my own mechanism to raise and lower.

Arvind
 

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Theo:
i meant the instructable you had linked to Drill Press: 4 Steps
Nope, but if I had a computer back then, and they had plans like that on the web, I might well have. But I had sold my Shopsmith and had money, so got a HF drill press for around $50, and have never regretted it. But if I thought I wanted another drill press, but didn't want to spend money, then I'd make one in a heartbeat. I'd google the whey out of plans first, then make one my way. I say give it a shot, won't cost you anything except time and a bit of wood, and you can get pallets for free. Then if it works, great, and if not, then maybe you can correct what isn't doing so great. Plenty of free plans out there, way, way, back, a lot of people made their own tools, simply because they couldn't afford to buy them - table saws, lathes, drill presses, and so on. And they worked.
 
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