Don't need lasers, bells and whistles. A drill press is a very simple idea, that opens a world of neat tricks you can perform. That old Delta will do the job quite nicely.
When in doubt, clamp what you're drilling... seriously, when the work starts spinning along with the drill bit, it hurts.
I've seen a bunch of drill presses with the switch on the right side of the machine. Make sure you can reach the OFF switch with your left hand, because when something goes wrong, you don't want to let go of the handle with your right hand, while the spindle's still spinning.
