One thing that a lot of people forget about is the RPM range. Unless you are only drilling wood, and aluminum, most models will do a decent job. If you want to drill steel, you will want to make sure that the RPM range will get down to about 200 RPM.
The vast majority of the smaller drill presses don't get below 500 RPM. That means that you are going to burn up a lot of drill bits, unless your not going to be drilling any holes in steel much larger than about 1/4".
John
