I didn't see much in favor of buying a new HF drill press in this thread, so I went over to Welding Web and asked the same question in their HF forum. The
replies were about the same as here, nobody had bought a drill press at HF who described it as heavy duty. One poster liked his $300 Porter-Cable from Lowes and two others agreed with that choice. Conclusion - HF isn't the best place to buy an inexpensive drill press for occasional heavy work.
Deereman75's advice to buy an old Delta off Craigslist looks like the best solution to me.
To answer this- I have had their benchmodel 12 speed drill press for about 6 years, and it does fine as long you keep the speed down, use a sharp bit and let the bit do the cutting.
In addition, their stepped drill bits make a nice smooth cut and rarely hang up like twisr bits. But if you're going to be doing a lot of drilling in 1/2" stick, you need the twist bit.
As long as I keep the bit lubed, I can drill through anything I want...
...And at 39.99 on sale and with a 20% coupon added on to that, I spent a 10th of the 300$ you quoted for the "inexpensive drill press for occasional heavy work.
BTW, I went to the local HF yesterday and bought a Cat 1 draw bar for 10$ and a 3/8" chain tensioner for $19 that are both materially the same as the ones TSC sells on sale for $39 and $50 respectively, and when they get their Cat 1 quick hitches back in stock, I'm going to RUN down there and get that too [I saved a 20% single item coupon just for that].
I have occasionally had problems with the stuff they sell, but it is getting less and less often as the years go by.
My $0.02 for what it's worth here in the 21st century...
Thomas
PS: If you get Field&S, Fm. Handyman or Pop Sci magazines, they have ads in back freq with 20% single items.