it is always tempting to complain about cheap tools, but two things to think about, could you have afforded something better and were you a cheap skate,?
or were you only able at that time to go for the lower end of the market, if so maybe you should have gone and found your local model engineering society, and asked there whether any old tools were around, they would be good quality and properly maintained.
also there is the question of what you are trying to do on the machine.
to many people take the tool home, and expect it to be perfect from the get go, so a few tips. make sure you remove all the anti rust treatments and waxes, then properly lubricate with a dry grease. then check the run out of the spindle which hold the chuck. simplest way, put a short length of coat hanger in the chuck, and a piece of wood on the table, bend the wire so that is runs about two inches outside the centre of the chuck, then using hand pressure rotate the chuck 360 degrees, see if the wire touches the wood all the way round. if not check the table and mounting are square all around using your level. then set the speed at slow, and run the drill a couple of times,and see whether there is any wobble. if so . remove spindle, and clean again, also clean inside the shaft it goes into, this is known as the quill, then re-install the chuck, use a rubber mallet, then re try.
if it's is still running out take it back, and get another one. like everyone else, i have had some problems, but my 5 year old ex-B&Q item for 29 quid works well for my model making, and the occassional hinge hole drilling, but i do not expect too much of it. are you over expecting????
final thought about engineers, anyone can make it for 200 quid, and engineer for 2, but a US pentagon worker makes it for 5000 dollars.
no wonder going to war costs so much when hammers cost the pentagon 500 bucks, and you and i 27 quid even imported.
paul :wink: