I've got one. As a paperweight, it's pretty good. As a woodworking machine, it's basically worthless. Even if you manage the clamp your drill in so it's square (a big *if*, btw), the stand will flex as soon as the bit touches wood, and there's no telling how far it will wander. Controls and tuners can be done by hand with a little guide to keep you pretty square. A benchtop drill press might be a good idea, too... they're small and pretty cheap, and they work much better than those drill stand things.
If you get one make sure ther's a goos distance between the pillar and the bit. I bought one the works well, but when it came to bridge stud (T-O-M) holes on my Cs356 DIY it wouldn't allow me to line them up. I ended up doing them on a friends big work one.
RobSm