Shop Smith

I have an ancient shopsmith that I've used a few times as a drill press. It works, within limitations. As Fawteen said, the table leaves a lot to be desired if you're doing anything heavy. If all I was drilling was wood, it'd probably be OK. I also don't remember being able to slow it down very far.

Watch Craigslist for a floor model drill press. I picked up an old Craftsman cast iron one off the Denver Craigslist for about $40 becasue it didn't work. All that was wrong was the switch in the motor was bad. There's a Delta floor model listed right now for $125.

Keith

When I was on active duty in the Navy, and my "shop" consisted of a 4x8 utility shed, it was a godsend.

Now that I'm "retired" and have a full size garage, and room for a real tablesaw and a miter saw, I use them for the bulk of my wood cutting needs. The SS still gets used in bandsaw, lathe and disc sander modes.

As a drill press, it's fine for wood (VERY handy in horizontal boring mode) and barely adequate for light work on 3/8ths or so metal. 1/2" chuck capacity.

If ALL you're looking for is a drill press for primarily metal work, I'd say keep looking. If the other functions are something you'd use, and the price is right, it's a pretty good machine.