Grant wrote:
um, "deflect". Do you mean it wanders and the hole doesn't start where
you think it should start? ...

English really is my first language, even if it doesn't show
sometimes.

The point of the bit makes 1 move, in one direction - it doesn't move
in a circle or make random motions. I could be convinced that it is
the chuck that is moving, rather than the bit flexing, too. I don't
see any sort of nut or screw or drawbar or ??? holding the chuck to
the machine, so I'm not sure how I would tighten it if this is indeed
the case.

I think your suggestion about the mill-drill is probably the right
solution.

Chris