Hello, Welcome to the Zone.
Hmmm. What kind of things do you want to be able to cut? Drill presses are not really designed for lateral or sideways pressure. The quill will not be able to take much and neither will the chuck. Search on chuck here, and you will see many posts telling you not to use one. As far as speed, it will be too slow for wood and too weak for metal IMHO.
Tell us more as to what you want to do and we might me able to help.
Steve