I agree with Riesel - work holding is as important as the drill press.
One of the most common drill presses out there is a “12 speed with 5/8” capacity”. It’s made by everyone and you will see them come up for sale every week in every town for $50 to $250. 40 years old or new, the design hasn’t changed much.
You want to find one with as little runout as possible, which is hard to judge because the inexpensive chucks these are sold with are really terrible. I bought two for $50 and kept the best one. An inexpensive “precision” drill chuck is well worth it for $100 or so and cuts way down on runout. A good used Jacobs Super chuck is another good option for about the same price.
Now that you have a machine with little runout, work holding is a harder thing to describe. The table won’t align with the spindle very well - these just aren’t sold as precision tools. A flat steel plate is the next thing I’d suggest - 1/2” or 5/8” and 16” square or so - Blanchard ground plates aren’t overly expensive, but any plate is better than no plate. This gets drilled and tapped and shimmed and bolted to the drill’s table so it’s perpendicular to the spindle.
One of the cheap milling vices off Amazon or eBay are well worth it. 5” is large enough to take care of a lot of normal drill press things - it’s big and needs that 16” square table. I have a 4” and 6”, but a single 5” is an ok compromise.
We could write a book on drill press setup, but that’s my setup and everything I’ve mentioned has been under $400 - you can get it all for a little less if you enjoy bargain shopping, or an extra $200 to $400 if you want everything new.
If your budget was $200 I’d say the used drill press and the new milling vice would be my first purchases.
(to use a drill press to drill and tap accurate holes you’d need a drill guide made for the purpose, but it still won’t be as usable as even an inexpensive mill.)
