I have a business repairing antique clocks and other oddities (e.g., that weird Trac moped I bought) and I've had exceptionally good luck with Harbor Freight's smallest and cheapest bench model.
Mine, purchased by mail in 1994, is pretty beat up by now, but still repairs clocks and smaller parts nicely. Generally they're less than $100, and they come with a nice work-light nowadays. Alignment has remained excellent over the last 26 years or so.
The only problem with mine is that the starting winding of the motor burned out in maybe 2010, so you occasionally have to give the motor a spin to start it. My guess is that they've improved the motor by now.
Remember this: it's not the tool that has to excel, it's you. Any machine tool will have limitations, and you must either work within these or arrange to do the job in another manner. Even a small drill press like this one is an exceptionally powerful and accurate tool--you'll be amazed--but you have to work with it, and work with it intelligently: it doesn't do the work. Ensure that your workpiece is clamped properly, center-punched adequately, that your drill bits are sharp and clamped firmly in the chuck, and that you keep a careful eye on the drilling process. The speed range is generally unimportant, as is the 'swing' or size of the machine.
I also have one of Harbor Freight's floor-mounted radial drill presses. It's much bigger, very accurate. Oddly enough, however, I like the familiar old semi-crippled bench machine for almost everything.