My son has the Wen drill press and uses it primarily for metal so it would also work fine for wood. I have a Wen combo belt/disc sander and it has worked well for me. For the money, I have been impressed with the Wen brand.
I have a Delta bench top drill press that I purchased in 1991 for my garage/wood shop. There have only been a few instances where I needed a floor model. One was boring a hole through a log for a lamp. In almost every other instance, the bench top model does what I need it to do. My shop is my shared garage and I have no room for a full sized drill press. It really comes down to what type of projects you will be doing.
My second and future retirement home has an 800 sq. ft. unfinished walkout basement that will become my dedicated shop. I will have a full sized drill press and bandsaw at some point in this new shop.
Basically, a tool is an object that enables you take advantage of the laws of physics and mechanics in such a way that you can seriously injure yourself - Dave Barry