Of the sub-$1000-but-not-bargain-basement-generic-China mag drills, my preference is the DeWalt. I pick that over the Hougen in the same price range because it has a 2 speed gearbox and is overall a bit more refined IMO (at the cost of being a Taiwan import and not being from Hougen, which is one of the first names in annular cutter mag drills). Note that this is primarily designed for use with annular cutters, but does come with an adapter to use a drill chuck so you can use twist drills. Drills in this range generally don't have a spindle taper or anything- just a direct weldon chuck, and the drill chuck adapter simply fits in the weldon chuck and is threaded to accept a drill chuck on the other end. There is no reverse or anything like that- all you're going to do is drill holes. Also, drill travel and clearance under the chuck tends to be pretty limited as they are designed first and foremost to accommodate annular cutters with a max cutting depth of 2". If you use twist drills, it helps to use mechanics length or screw machine length drills.
Now some other mag drills, generally bigger and more expensive, are not designed so much around annular cutter work. Milwaukee for example made mag drills for decades before annular cutters really became a thing, and their old school (and most expensive) models reflect this. They were designed primarily for twist drilling with either chucks or taper shank drills. You can also use a weldon chuck for annular cutters, of course, but that is just one tool in the toolbox. They have both multiple speed gearboxes and electronic variable speed, and are reversible. Thus they can be (and often are) used for tapping operations as well as drilling. They also have 10+" of travel. Milwaukee isn't the only option- I personally have a CS Unitec/BDS with a swivel base, 2MT spindle, variable speed, etc. It cost several times what my DeWalt did, but it has greatly expanded capabilities (though honestly for just popping holes with an annular cutter the DeWalt was a little nicer to use). So just be aware that if you buy an old used Milwaukee or something, it might not be quite as straightforward as popping in an annular cutter depending on what tooling comes with it.
