...if I had one of those drum switches laying around I would probably of used used it. Now I have one light switch to turn on the motor and the 4 way to select direction, It seems to work well.
I set my Powermatic up this way, kinda. I bought a proper "hockey stick" drum switch ('cause "available" and "in the right price range"), and set it up with that. Hadda take the motor apart and liberate some (crap) from the back of the connection board, as while this is a "reversable" motor, it was never marketed as such and there were literally two screws to hook up power... All that went well. BUT....
Given the habit of "all drill presses are the same", there were "mistakes". Months in, long after muscle memory should have been properly adjusted... I actually put the proper (not proper but they're all this way....), proper light switch back in the front of the head, and use the drum switch exactly as you're using your switch. Now I still can turn on the "master" and use the drum switch (safely and on listing) to start and stop the motor if I so choose, but I like the "master switch" better. Depending on you, as preferences differ, you might actually have a feature there, and not a drawback.
Zoro has them for a little over a hundred bucks right now--about half of most other places--and I bought one through their ebay listing.
I have NOT (nor could I ever in a lifetime) checked "everywhere", but that sounds like the bottom end of what I've found.
I use might for light milling of small parts made of soft materials using a simple and very flexy old X-Y table. That works better than it has any right to, but attempting it with a taper-only chuck will be risky.
Yeah, my Powermatic is tight, but it's not that tight..... But, while milling is NOT on "proper" list for a drill press, doing router work with it (Real router work, not portable router work), that WAS on the list of approved things to do. And drum sanders. That's my favorite way to liberate a captive chuck. Then there's those old circle cutters with the single point cutter. Or the "Safe-T-Planers. Ever seen those? safer than what? How the (heck) did you plane with a drill press when it was dangerous? Good grief times were different. That thing scares the heck out of every time I use it. I act accordingly, and I love it. It actually works. But it'll separate an MT2 chuck more efficiently than wedges will, and will give a drift key a run for it's money...
Rick "needs a mill" Denney