Well, I basically tore the whole thing apart including the motor. Removed the rust from all the parts then proceeded to paint everything with Rustoleum Hammered Finish (Dark Blue and Black) all other parts were painted using Rustoleum Semi-gloss Black. . I even painted the inside of the motor.
I replaced all the but a few of the hardware with stainless steel socket-head cap screws. The wiring was shot so I bought a 25? 16 gauge (13 amp) 3 wire extension cord and cut what I needed off it. Then re-wired the switches, the motor wire and the light bulb housing.
Replaced the drive belts, quill/spindle bearings and made a platform with wheels so I can move it around.
Started this project around on 07 May 2004 and finished on 21 Jun 2004. Of course I wasn?t working on it constantly, the weather (rain/humidity) prevented me from painting and the time it took to order and receive replacement parts.
During this drill press project I was also overhauling my angle, x-y axis, and 4? vises, which I have already posted pictures of. Overall it was a fun project, can?t wait for the first chips to fly.