I've got one of those, may be one generation newer. Mine is a floor model and has a large production type table on it and only one switch on the face.
It's been a good drill press. Mine is smooth and the spindle is tight. The only problem is it turns a bit fast for larger bits in metal, but I've got a big Delta for that. I'm thinking about building a third pulley speed reducer for mine.
For the price, I'd jump on it if it were me.
Oh, and I got a couple of spare belts for mine at NAPA.
