When I started this project I needed a drill press and forgot to mention I bought a floor standing Sears Craftsman drill press. Well it has worked okay, but it bugs me. Because the drills have never spun true. The wobble. I bought a measuring tool from harbor freight and discovered all me bits wobble about 11 thousands (0.011). Well that is too much. About a year ago I bought a new arbor and chuck from Sears, but guess what? It was bad also. It is just the level of quality or something.
So I got out my measuring device and discovered the arbor spun true. It spun with less than 1 thousand variation (0.001). So that is good enough. I decided I needed only a better chuck.
Well there are chucks for sale for $400 bucks but I could see spending that. I ended up with a keyed chuck from Grizzle for $50. They call it their precision chuck. And it is. It spins my drills within 4 thousands (0.004) variation. So finally this thing is working okay.
Advice: I would look for an old factory drill press before buying a new one. And I read the reviews more before spending the dough. I see better reviews about JET drill presses. Also I think the keyless chuck tends to be less accurate than the keyed version. Just my opinion.