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Google images of that model look exactly like the one I have in my home shop. I love the depth stop, which Delta may have a patent on since so many other models have such crappy solutions. If the rack isn't bent and it'll crank up and down easily then $200 or whatever bit lower than that you can haggle for sounds reasonable. Twice that for an inexpensive new drill at least.
 

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I bought one in Jan. '92 for $298, and it's still the only DP I've owned. The only way i know to measure runout is with a dial indicator, but it doesn't have to be a Starret...the HF one will work fine for this. What I like is they have a good size motor (3/4 HP) and a 5/8" chuck. On mine I did have a runout problem, about .015 which I viewed as too much even for woodworking. I replaced the chuck and that solved the problem (my old chuck wasn't working all the smoothly anyway. The new one is 3/4", never needed that size but it didn't cost anymore than a 5/8". It deserves a look.
 

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200 is already half of the original price.

Is there an easy (simple) way to measure the run out? I dont have any fancy tools.
With a known straight steel rod chucked, lock the quill and place a wood block if that's all you have, or better a steel block,against the rod and rotate the chuck with the belt ( power disconnected of course ). Any run out will push the block away. The run out is half that distance if a correction is to be made. Can be checked with a feeler gauge, a piece of paper or in extreem cases a cereal box top.
 
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