That is an odd application for a controller if sold that way. Routers of any value have been equipped with variable speed cntrol for years. Small motors will operate with a straight rheostat control, however, will operate ok that way with a reduction in power. A lot depends on your drill press. If you have any kind of larger machine with either a start or run capacitor a much more expensive Variable Frequency Control would be the best idea.
Honestly, for just this kind of stuff, I keep a little $100 Harbor Freight press in my shop. I have a radial/rotating wood press, a large metalworking press and a milling machine with DRO and power feed for really precise work, but there's nothing quicker than a key and handwheel.
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