Just to weigh in on the other side, though, a drill press is not the right tool if you are trying to hold .001" or even .010". My cheap import press is certainly inferior to more expensive brands; and yet the $800 or so that I saved buying it instead of a Delta with the same capabilities bought me a nice old Atlas lathe.
Professional work is a lot different then amateur. I wouldn't even consider buying the same press if I ran a professional machine shop, but I don't.
After nearly 25 years of occasional use (and abuse), it still does what I need. Sure, the spindle doesn't run as true as I would like (the angle is off a bit, you can see the wobble with a long bit installed), and the idler pulley makes odd noises; but even if it crumbled to dust tomorrow I wouldn't be sorry that I bought it. And even if I break down and buy a nice CNC Bridgeport VM tomorrow, I'd still have a use for the old drill press.