I have a porter cable floor model. The run out on it is acceptable for woodworking, which is what I mostly use it for. If you think you will be doing machine work, I would look for something else.
How big of a bit you are going to use is also important. I also have an old craftsman bench drill press. The widest bit I have is a 2" wide forstner bit, the bench top press doesn't have enough hp to use it, it just locks up. The porter cable will slice right through hard maple with that bit.