Yea, don't use a drill press! I very recently tried that. I can't seem to find the drill chuck for my lathe, so I decided to try making Magic Spark Plugs with the drill press. Neither drill bit hit the center target. The result was a botched plug. Emissions showed I was better off with the normal plug.
I don't know what to say, other than the only success I've had was using a lathe to keep the holes centered. If you're a better machinist than me, maybe you can do a much better job than I did.