FRETS.COM
Shop Tip #170
© Frank Ford 2006; Photo by FF

Don't forget that you need not be constrained by the chuck that came with your drill press. I'm a big believer in keyless chucks - they grip like crazy, they allow for really quick bit changing, and there's no chance of starting the drill with the chuck key in there. This big Grizzly import 5/8" capacity chuck works very well, and cost me about fifty bucks.