Recommend a good drill press...
I buy a LOT of my tools at Harbor Freight. They have a shop here locally and have a lot of stuff. A lot of it is "low end" stuff but the actual power tools are pretty good plus they carry a lot of power tools in sizes for modelers - like 4inch table saws (serioiusly) and small bandsaws etc...
Take a look at Grizzly on the web as well. I just bought a new bench power sander from Harbor freight while on sale during the July 4th holiday and got home. It's the EXACT same one grizzly had for 1/2 the price....