There is no such thing as a decent cheap tool, and Harbor Freight is the home of throw-away tools.
I did weeks of research a couple of years ago before I settled on a free-standing 15" drill press.
Here is what I learned.
If you want a drill press, you first need to decide whether you will be drilling more in wood or metal. Quite suprisingly, when you look at drill presses, the majority you will see are better suited to drilling wood, and I fact, more of the product lines are aimed at the wood working hobbiest. It is in this capacity that the Harbor Freight junk will be adequate.
But to handle metal, and drill straight holes in metal with repeatability in alignment and depth, that is where the more expensive drill presses come in. See, the cheaper tools have chucks that are sloppy and cannot be replaced with better ones like a Jacob chuck. Spindle in the HF junk is sleeved instead of being supported by high quality ball bearings. The motors are weak and you will notice the stepped speeds are higher to compensate.
Delta is a well known brand, yes. But it has had it’s share of complaints, and should be considered the entry-level drill press. After that, you have the Jet models, Ridgid 15" floor model and the Sears models. Then you get into the serious stuff that Grainger sells, like the Dayton line.
The Ridgid 15" floor model is the stealth champ.
DP1550 15" Drill Press I bought one two years ago, after exhaustive research, and it has been a gem. I’ve used it for a variety of metal drilling products. I bought a Sears drill press vice & another idler pulley system that allows me to slow the press below the advertised 300 rpm.
At ~250 rpm the depth gauge & lock are good enough to trim brass rifle cases . . it’s that accurate!
In conclusion, the cheaper drill presses are no bargain. A properly selected quality drill press is an asset to any home shop. BTW: You can often find 1960's- 70's Sears drill presses on eBay. They were really fine machines with very accurate heads. They aged well, and while heavy, if the auction in within driving distance, should be seriously considered.