A drill press is nice to have, but if you already have a vertical mill, there is no reason that you absolutely NEED to have a drill press. Personally, I like having both, but I could get by without the drill press if I had to. The only real advantage I can see with the floor model drill press is that you can get a greater distance between the spindle and the table with a drill press than with a mill, but just how often do you need that extra distance? Setups are generally faster with the drill press, too, but that's not really a deciding factor in my book.