I have a home machine shop and actually manufacture parts for vintage drill presses. For drilling metal, you want low speeds. 5 speed drill presses are crap. If it doesn't have 2 belts and 3 pulleys, kick it back. Vintage American Iron is what's cool. Atlas, Rockwell, Walker Turner and such. If you can't find some vintage American iron, then 80's imports are good. Look for made in "Tiawan", a 12 to 16 speed. Doesn't mater much which. But when you want to drill a 1/2" hole or bigger in a steel plate, you'll be able to get the speed down where you can really augur out the meat without burning up your tools.