I have one of those Horrible Freight 1/2 vertical size drill presses. 3
step pulley wheels to set the speeds, etc..

I need to drill 4 holes in some 3/4" mystery-metal plate. I'm looking to
drill 3/4" holes to be able to pass 5/8" bolts with a little bit of margin
for error. This is going to be the base of my power hammer. Below this
plate will be rubber matting and some wood as a buffer between it and the
concrete floor. The plate itself weighs about 260#s. I figured I could
use my engine hoist to hold one end of the plate and clamp the other end
on the drill press for drilling. I'm not sure I can gear it down enough
though for that large of a bit. Does this seem like a good plan?

I also have an Index vertical 40 mill, but no real clamping set for it,
just a mill vise.

The other question I had was that I needed to drill and tap 4 1/2-13 holes
on one end of a 32" long 6 1/2" bar of, you guessed it, mystery metal.
I'm wondering if renting a magnetic drill press would be a good idea for
this. The dimensions are going to be a lot tighter as this will be where
the power hammer dies are bolted down.

Todd