[jimmontg]

A drill press doesn't have an enclosed motor and that is a problem, my 1x42 Delta doesn't either, but it has a motor that is some distance from the grinding and I keep it blown out. Metal chips can and will short out an electric motor. My Dayton is a TEFC or totally enclosed fan cooled motor. If you want to get serious about knifemaking sooner or later you will have to go with the enclosed motor, but you can minimize damage by getting some canned air (or compressor) and keep it blown out. I have had my Delta for years and still going strong, but I am aware of it's limitations.

The pulley system on a drill press would definitely give you some speed options as you want to slow down for some materials like wood or synthetics. What HP is the motor on the drill press? Mine is only 1/3 HP and would not really be suited for heavy grinding. To give you an idea my 2x48 has a 3/4 HP motor. The big 2x72s start at around 1 HP+ and go up from there for variable speeds and such. Even the Harbor Freight 4x36 has a 3/4 HP rated motor though not TEFC. I used a 2x48 Kalamazoo for years and they were pretty good, but they had Baldor motors and if you think that doesn't make a difference you'd be mistaken. A high quality motor will last for years, but not a cheap motor.

If you are thinking about running belts off the drill press quill you will ruin the press by putting too much side pressure on the quill/spindle as they are designed to drill straight with little to no side pressure. Many a drill press has been ruined because somebody bought a cross travel vise and thought they'd turn their press into a mill. Even drum sanders you have to be careful with on a drill press.