So ideally, my drill press would be designed with an angled groove milled straight down the back of the column, and the table mounting collar would have a conical tipped screw that would index in the groove. Then I could align a fence or other fiducials once, and should I ever move the table (which I do all the time, by the way), I could easily get right back to being aligned just by indexing the screw into the groove.
I don't have an ideal drill press, I'm afraid. Does anyone have any ideas how to realign the table once it's been move/raised/lowered?