I agree Outlaw, it is a wood drill press. You would want the extra pulley attachment to be able to get slower speeds. 680rpm is the slowest that press will go with a 1725rpm motor.
That's a Slo-Speed model. Speeds are 470, 780, 1300 and 1950 RPM.
The foot feed for the old 14" and 17" Delta drill presses was marketed for both woodworking and metalworking.
The foot feed is more sensitive than you may think. It has 4 adjustment points to change the mechanical advantage (feed rate), stroke and relative position of the foot pedal. In the slowest feed rate setting, it's entirely appropriate for metalworking.
These are direct quotes from Delta's descriptions of the old 14" and 17" drill press foot feed attachments:
"It will be found a great time saver on production work. A wide range of adjustment is provided, not only as to stroke and leverage, but also to suit the operator's position and height, whether sitting or standing."
"Production shops will find that a foot feed attachment pays for itself in increased speed of operation; home shops will find it a great convenience in freeing both hands for supporting or handling long stock."
"It is efficient in action, easily adjusted over a wide range of feeds, and can be disconnected instantly when hand feeding is preferable."
You might not need new bearings. If they are taper roller bearings then you might just need some extra shims to tighten things up.
They're not tapered roller bearings. That drill press model used single-row shielded ball bearings with a special notched sleeve to engage the interchangeable spindles.
Original New Departure 88100 on left, custom-made modern replacement on right.
The original style has been obsolete since the 1980s when New Departure Hyatt was bought out by MRC. MRC was subsequently purchased by SKF and most of the older NDH and MRC bearing styles were discontinued.
Replacements, as shown on the right, are available from a couple of owwm.org members who have modified modern sealed bearings with the necessary notched sleeve. They're very high quality and reasonably priced.
The bolts are on the underside for the motor mount, you can see one in the side shot.
Correct. The motor mount slides on two posts and is locked in position with two 5/16" bolts. Very easy and solid adjustment.
Those old 14" drill presses are great units, except for the obsolete spindle bearings, but that has been solved as mentioned above.
The foot feed is a somewhat rare and sometimes desirable accessory, and certainly adds considerably to the value of the drill press, but as Outlawmws mentioned, $400 is a bit steep for an unrestored drill press, even with the foot feed attachment (worth $100 to $150 all by itself). $250 at a maximum would be more in line with what can be seen in the photos.
all we need now is "More Power!" 
