How big was the drill press? Probably the issue is, with say a unit that 
will drill 1/2" holes, pushing down on the feed lever can create say 100 
lbs. of axial force on the drill bit. Even with a light hand, there will 
be little tactile feel to a small drill bit. A small drill press with a 
fine (small increments) of low force feed should give tactile feed. As 
for shortening and resharpening small bits, forget it unless you have a 
jig to hold the bit at the correct angles, and do both sides to 
symmetric shape/location. I used to touch up sharpen bits by hand, but 
the smallest I could do, and be usable was around 3/16". Now I have a 
drill doctor drill sharpener. It does great on 1/8" - 3/4". If a bit is 
not sharpened properly, it won't center on the center punch accurately, 
walking to the side, and bore ragged oversized holes. In the case of PCB 
holes, probably would leave ragged copper edges.

I have broken more drill bits by hand than with a drill press. The drill 
press provides concentric force on the bit, minimizing the fatigue from 
alternating bending stresses. A hand held drill is even with best of 
technique going to cause the bending fatigue. With a handheld drill 
motor and a bit 1/8" or less, as  you drill, watch the bit for bending.

Jinx wrote:
>>> Tried a drill press once and didn't like it. No tactile feedback. I
>>> think I would break more bits with a press
>>>       
>> That's the (huge) difference between 1mm and 0.7mm. The latter
>> _will_ break if drilling by hand!
>>     
>
> You could be right. Now I think of it I could grind off a lot of
> the shank so that maybe only 5-6mm of the bit protrudes from
> the collet, which is all you really need for a single PCB anyway
>
>   
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