If I just needed a drill press, I'd go with the drill press. If I didn't
already have a mill, the mill/drill would be a better choice.
The problem with the mill/drill is that it won't have the depth of drilling
available that the floor mounted drill press will have. As to milling, the
machine is a lightweight mill so you aren't going to be swinging 6" face
cutters or other such stuff but anything that you can do with a larger
machine, you can do within limits on the smaller machine.

--
Bob May
Losing weight is easy! If you ever want to lose weight, eat and drink less.
Works every time it is tried!