I just got the same drill press
(can't beat the price, and it's a decent press)
It's deffinately a
LIGHT duty drill press and wouldn't hold up to any side to side motion. It should work just fine in vertical drilling like everyone has said.
J.C. Whitney has an assortment of x-y vices (cross vice) that should fit this press just fine. I plan to order the better one rather soon -
http://www.jcwhitney.com/item.jhtml?...=19830&BQ=null