Am thinking about getting a drill guide to assist me in drilling straight holes for the headstock, pickguard bridge, etc...
Not willing to drop $150+ on a full size press, and not having the workshop space, I thought this might do the trick...
Anyone have any opinions on this gizmo???

http://woodworker.com/cgi-bin/FULLPRES.exe?PARTNUM=103-887&go=700462

It's not worth the time or money. You'll wish you had a real drill press after the first project.

Try this Harbor Freight (http://www.harborfreight.com/cpi/ctaf/displayitem.taf?Itemnumber=44506) one instead.

Go onto Ebay, You can find a small tabletop/bench top drill press for about the same price. have seen a couple from Sears/Craftsman ebay site. Dont mess with these things, they are not really stable for making good straight holes.

I second the above.
You're far better off getting the crappiest benchtop press than one of those "strap-in-your-drill" thingamabobs. And for the exact same price, pick up that Harbor Freight one, there's no excuse not to.

Am thinking about getting a drill guide to assist me in drilling straight holes for the headstock, pickguard bridge, etc...
Not willing to drop $150+ on a full size press, and not having the workshop space, I thought this might do the trick...
Anyone have any opinions on this gizmo???

http://woodworker.com/cgi-bin/FULLPRES.exe?PARTNUM=103-887&go=700462

I've got one of those. It's nearly impossible to set the thing square, the base is too small to support anything, and the drill bits will wander as you apply pressure. I'd be pissed if I hadn't gotten it for free. Stay away!

I've got a Delta press similar to that Harbor Freight. Well, the Delta has a bigger platform, a few extra do-hickies, a good depth-gauge setting lock, a bigger motor, better throat-depth, and a bigger chuck. Okay, so it's not that similar :D . Of course, I paid more. Still, I never regret it: the press and some really good bits from Lee Valley, and it's made life a lot easier.

Ultimately, I'd like a full-size floor press like one of these:
http://www.woodcraft.com/family.aspx?familyid=4843
or something comparable. Bigger throat and enough room to stand a body on end to drill holes for jacks, as well as other things.

Boy, I've talked a lot about me in this one...get yourself a benchtop press: it'll make a world of difference.

you can also get a bench craftsman drill press at your local sears. They are good enough.

The drill guide is junk and the Harbor Freight ain't much better.