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I am in Port Jefferson Sta.
if you have the room, a good floor standing model is indispensible for certain tasks.

One time, or to own? If just one time, where in NY are you?
read posts from ARX closer to the end of the thread
http://www.talkbass.com/forum/showthread.php?t=428330&highlight=press
Depending on how fancy you guys get, a floor standing 'press will allow you to use a fairly tall adjustable vise-like a 2-way. Like the one below;
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Hopefully I'm not jacking the thread here, but have you tried doing any metal milling with that?
-Nick
I too was looking for a drill press to do some light machining with. The advice I got from Grizzly was don't do it, the shaft bearings on a drill press won't take the x-y forces and it will void your warranty. Do a search on DIY CNC milling machines, there are lots of folks making their own and willing to share how to.