Thanks for you input Jim, much appreciated! I like that tool you've shown as well. I also have a center finder tool that I've not yet used. Once I have my drill press and I'm not satisfied with the tool I just picked up, I may try the one you've shown.Most of the older drill presses will be completely serviceable in their used condition if you can find a good one. They were built to last forever. If you are not able to do the work yourself, given the cost of labor, the cost to pay someone to rebuild it would far exceed the value of the drill press. The best option in that case might be to find a hobbyist that loves to work on older equipment.
For your current application just about any drill press will work fine. You don't need NASA precision for cross drilling dowels.
A drill guide something like this would be helpful
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Here is a link to the tool that I will try first for finding the center of my round stock. Have you had experience with these? https://www.facebook.com/Scott-Photography-71729994139/
Chuck