@Dave
In an electronics lab, I would actually suggest having two different drill presses.
For general purpose drilling, go with a 5-speed (usually around 600-3000 rpm) belt driven benchtop type drill press with a 1/2" (13mm) chuck. This will allow for drilling in anything from plastic to wood to steel and would also be very useful for step drilling of project enclosures. [Tip: For budget drill presses, check for play in the spindle. Lower the spindle/chuck down with handle and pull/push the spindle/chuck sideways to see if it has any play. If you want round holes, it needs to be tight.]
For pc board drilling with tiny carbide drills, I would recommend picking up a Dremel press and shim it square/tight. PC board drills need around 20,000 rpm minimum and work best at 30,000 or more. Running them at slower speeds dulls them much faster and increases the chance of breakage.
It might also be a good idea to keep a spot in mind for a small belt/disc sander. They come in really handy for final fit and finish of project enclosures and pc board edges. A small shop vac will keep any dust to a minimum.
Drill Press Speed ChartJeff Duntemann's Shop Tips@David
The reason you don't want to tin wires used in terminal blocks is that it decreases the contact area between the wire and clamp inside the terminal block. It causes the wire to remain more round, and tinned wire with a round/curved surface will have less contact area against a flat surface than if the strands flatten out. The best way to terminate stranded wire in those type of terminal blocks is to crimp on wire ferrules. Wire ferrules require the correct crimp tool though (there are a number of different crimp profiles available, too), so wire ferrules aren't going to be something commonly found in hobbyist level equipment. Wire ferrules are extremely common in industrial process and controls equipment though.