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I use the drill press for a multitude of purposes. From the obvious, drilling holes, to milling. I have used it for drum sanding, polshing, grinding, drilling mortise holes, even as a lathe (not recommended). The drill press is located at the edge of a work bench, but if needed, I move it as required.
I must clarify something, I am in the process of setting up my own shop and the one I used belonged to my late father. It is a full height Craftsman 1/2" chuck model.
I intend to purchase a drill press soon, and I have seen one specifically designed for woodworking. This particular model alows for table tilting to accommodate multiple angle drilling. This is a similar concept to the compound miter saw. I can probably get you some more information on the model, if you are interested.
I believe the unit you are talking about is the Ryobi Wood Drilling machine (I believe thats what they call it). I've looked at those closely and they seem like good units. Pricey for just a bench top drill press but seems to do a lot more than that and is variable speed.
Does Ridgid have any plans to attack the market place for woodworkers? With the product lines being sold, it seem that with a little tweeking, these could become a big hit with everyone. I mean that in a good way, as I always look for getting the most bang for the buck in the tools ability, not just the price.
I would simply like to see an after market line of accessories to work with the Rigid line. That seems to be the biggest holdup for me. If I cannot get a 50 " fence extension from the "BEIS" or something like it, then my choices are too limited. I too purchased the lathe, but am sorely disapointed in its performance. Listen up guys. I am an independent, sole proprietor woodshop owner in a startup business and I MUST have affordability and accessability. Now I am stuck with a lathe that cannot produce and must purchase another. Not a good thing for a budget or quality advertising.