Perhaps the biggest difference (and most important) part about re-storing my old drill press was updating all the wiring.
I've read horror stories about these old, all-metal machines carrying voltage through them and going straight to the person using it (because the machine wasn't grounded). I certainly don't want to die so it was a huge priority to make this drill press safe before I could use it!
Also, I don't like the idea of plugging a tool in to turn it on so I wanted to add a switch. I wasn't able to find any information on how to add a switch/grounded wire to a shop tool so I read a lot of electrical sites, forums and most importantly - I talked to my dad. I wanted this thing to be "code" and for it to be done RIGHT so I can show people how to do it themselves. (See disclaimer below)
This is the state I bought it in. It looks like someone tried to add their own switch by roughing in an old lamp cord and wrapping the ends with a wad of electrical tape. People, people.
The idea is simple, really. To add a switch you need to have the hot wire 'interrupted' and that is done by having the hot wire connected to the switch on both ends - when it's flipped on/off the hot wire is "connected"/"disconnected".