Awesome work! You "fixed" one of my biggest complaints about 99% of the commercial ones: you can move the "arm" up and down, or swing it side to side. I got spoiled at work, we had a couple old SPI tapping fixtures similar to your design (though much shorter) that allowed you to slide the arm up and down or swing it around as needed. I found that I almost never used it "square and true," frequently wound up swinging it 180* out and clamping the table on to a work piece to tap a hole that was in an odd location on a large part, or to tap holes in the end of plates that were too tall to stand up in a mill.
I've spent more hours than I care to admit searching the internet for more of those old SPI tappers, but all you can find are the ones with a C-style solid frame like an arbor press. To me, that eliminates 99% of the utility you've built into yours, whether intentional or not. Good work!
As SLK001 pointed out, you may want to consider a more 'secure' way to hold your taps. Taps are obviously pretty hard, they'll have a tendency to slip in a drill chuck. You can cheat a little by drilling slightly over nominal holes, and always always always keeping the tap wet. If you get a tap stuck, you're halfway to breaking it, and everybody loves a good broken tap mid-project.
I've used
these and wouldn't hesitate to buy them again. They've got a square broached in the "socket" portion that the tap seats into to prevent them from rotating. The taps are held in place by an o-ring, which is my one major complaint. No issues yet, but I can't see the o-rings lasting forever.
I've got a pair of
these in my "field kit." They make a small and large size, but I can't find the small at the moment. A little more universal than the above kit, so you only have to worry about losing two. I use them when I've got to run a tap in a tight corner where I can't get a normal tap wrench. Always fun trying to tap an #8-32 on the end of a 12" ratchet extension!