I bought a cheap Italian pillar drill 20 years ago. I have worked it long and hard. It is still serviceable. The modern Chinese equivalent I chose to replace it with was returned the next day. My ( fairly expensive- four figures) Chinese lathe was delivered within a thou in all settings, proving that you get what you pay for. Generally, money spent on good tools is not wasted unless you are old like me and will not begin to wear it out!