LOL, rafe, excellent!
Even a cheesy Harbor Freight type import benchtop drill press is a pretty nice thing to have. I saw a decent import one at a flea market last week for $50 and prolly should have bought it. It will clean up the general appearance of things you build from scratch because it is easy to get drilled holes aligned in a nice row by clamping a piece of wood to the drill press table and moving the chassis underneath using the block of wood as a guide.
It is VERY useful if you tap holes in things, you don't use the drill press under power, you chuck the tap in the press and twist it by hand. Makes the tapped holes nice and plumb. This is kind of a klutzy three-handed operation, but you have to admit, there are few things that detract from the look of a tediously built piece than screw heads in a wavy pattern. Oh, and your clearances for through-screws can be tightened up a tad.
It is also nice if you have to make chassis cutouts by drilling a perimeter of small holes. You can get those holes aligned very closely and uniformly to the line where you want them, and cleaning up the opening with a file is a lot easier because you're filing down a much smoother row of busted-out holes from the beginning. I had one last place I lived and had to give it away.