[jacquesm]

It's all speeds & feeds. Even if you use a drill press you can replace the bottom bearing (better still, use a few stacked ones) and reduce the load for your final pass and you can get surprisingly accurate workpieces out of a relatively cheap setup. Not everything has to be made to 0.0001".

If you're going to work wood then you should be fine. For light metal it will work too (aluminum) with some slop, for steel it probably won't work unless you go real slow.

In the end the mechanics are not the biggest part of the outlay, but if you're going for cheap every little bit helps.

The Sieg is a bit better than a drill press (not much though, I'll give you that).