Here are some of my drill press experiences so far -
I started out with a $44 (on sale with coupon or some promotion) Harbor Freight drill press, their smallest 5 speed unit. It worked just fine for nearly 2 years until I scrapped it due to the spindle wobble getting too bad. Replaced it with a $89 Northern Tool unit that is amazingly enough a complete piece of junk compared to the old HF unit. Supposedly it's still a 1/3 horse but it stalls easily, nearly as bad runout as the other worn one even when new, aluminum "pinchy" pulleys that aren't nearly as easy to change the belt with over the smooth stamped steel HF design, etc etc. Even the chuck key is wonky. At this rate I'll be checking out another HF unit.
The only real issue with these small units that prevents them from doing what I want is the speed. Slowest is 620 rpm on both I've owned and that's too fast for my 7/16 through 9/16 skeletonizing holes in the tang, it's pretty rough on the corners of the bit.