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It isn't that hard. However you're not going to get a straight round hole with just a drill bit. You'll want to drill about .015" undersized and ream to size.
The best drill press is a milling machine if you can swing it.
Anouther thing to think about is not just the table beeing square to the bit, but side to side movement or "wobble" of the chuck.
i dont even have a drill in my shop(tho it woudl be nice now and then )
i use a mini mill for everything
while i dont use reammers i do drill undersized and then post HT drill to size with a carbide ball endmill. that works great till you get into sme high alloy stuff