Hi guys,
My cheapo Harbor Freight drill press has served me well for years, but it finally failed on me recently. Fortunately, it ended up being a cheap fix (~$10) that will probably outlast the rest of the machine. The component in question is the large on/off switch on the front of the machine--it definitely looks and feels cheap.
For this repair I decided to go complete overkill and source a high quality switch from Japan. As the late Marty McFly once said, "all the best stuff is made in Japan."
One sheet of 1/16'' polycarb later and the fix is complete!