Since getting a drill press last year, I've been putting holes in anything that will stay still long enough. If only my cats trusted me a bit more they'd have some awesome new body modifications.
The drill press is great because it only does one thing, put holes in things that otherwise wouldn't have them. Unlike, say, a table or band saw, the things you can make with a drill press is pretty limited. Enter the humble desk lamp. Take some wood, drill a couples holes, install some simple hardware and voila! A lamp is born.
This one is a reading lamp. Put it beside your bed, read up a storm, then the lamp holds your place until the next time you need it. Winner!