I do fullsize aircraft structural fabrication for a living. slow speed/heavy feed is the rule for steel. lube helps a lot too. a dewalt drill or any good hand drill should do ya fine. dremel runs too fast. work hardening what you are trying to drill is a sure way to kill drill bits and upset you in the process. you don't really need a drill press unless you are drilling thick stuff or large holes. it does help with making your holes perpendicular to your work though or if you are doing lots of holes.