I'll cast a vote for getting an old drill press over a newer one. The beefiness is certainly noticeable in how smoothly it runs. Plus, there's something cool about old machinery that the new stuff just doesn't have -- a certain je ne sais quoi, if you will.
Here's a Walker-Turner drill press I just got this weekend. If you want to read the whole saga, check out my story over on WoodCentral. It's a 15" drill press, with 4.25" spindle travel.
Just got it home and assembled. Since this drill press is 4" larger than my old one, I'm going to use it as an excuse to build a new table. Probably won't be too different from my old one, but will have a couple improvements.