I will describe what I have done and post pictures if I am able to! E-mail has been great but have not done any attachments.
The drill press is a floor model Craftsman that I got from my father. It has an open column and an opening between the spindle and where the head attaches to the column. Some years ago I replaced a garage door operator that was a chain drive unit. The long chain and sprocket were just too good to put in the trash! Didn't know what I would do with them but were put in a box in the garage. Can you all relate? To start I let the table clear down and set on the bathroom scales! It weight approx 22lb so I found a formula on the internet that told me I would need a 24" piece of 2" stock as a counterbalance. Several of my friends are also collectors and I got a rusty piece that would never be seen anyway. It's great to have friends that have similar interests. I'm going to try and send some pictures which should be self explanatory.
If you have any questions Just reply to me. I used material that I had and will tell you that I put needle bearings in the chain guide wheels and the are turning on 1/2 " drill rod.