Something I feel that should be mentioned with a drill press. The bearings in a drill press are not persision. Your results will not be as good as with a mill. You will also wear it out quickly as mentioned above.
But what I really have to stress is this. Do not try and hold the material with your hands. Get a good X-Y table with a very good vise. Keep your fingers away from the cutting tool. You will not be able to hold the material in your hands whil pushing against the cutter. Also in a drill press. It is highly recomended to use new sharp cutters. It will take some of the load off of the press.
I have used a drill press before and the results were far from my liking. And there are SOOOOO many safety issues that need to be addressed. I would always recomend using the right tool for the job. Please be carefull as I would hate to have someone hurt them selves. But it would be fun to make fun of ya if you did loose a finger!
J/K