Best Way To Drill FX Boxes??

[Pushtone]

I got an 8" drill press for $40 at Canadian Tire on sale. Cheap Chinese brand.
I don't think it will last long if used on steel, but for alu. stompboxes it's great.
8" is the smallest press I've seen. Can't do much other than stompboxes, but hey $40!!!
I use it with a Unibit. I use the Greenlee punch at work for tube socket holes but as mentioned
it will deform the metal from flat.

The best prices I've seen on-line for a press is
http://www.harborfreight.com/cpi/ctaf/displayitem.taf?Itemnumber=44505

If I wanted a good one I would go for Craftsman at Sears.

I use a nail-set and hammer in place of a center punch - cheaper.

If you are also doing you own PCBs, a press becomes indispensable.

[Mark Hammer]

There has been only one oblique reference to it here, but I have to say that the spring-loaded centre-punch I nought myself over 25 years ago has been one of my best friends as far as building pedals goes.  They usually go for less than $10.  The spring tension can be adjusted for different amounts of required pressure for the "windup" before the tip punches the chassis surface.  I also find that the tips on these tend to be more precise than struck centre-punches. 

Not only do they work well for machining boxes, but they also work great for PCBs too.  I'm sure many have found that the tiny bits used for drilling PCBs can easily snap if the bit "wanders".  If your copper does not have a clearly defined hole for the bit to sit in, the spring-loaded punch, set for soft-to-medium pressure can be used to produce small precise dimples for the bit to seat itself and avoid snapping.

A reamer is a good thing to have as well.  Every now and then you find yourself having picked up a great deal on pots, toggles or jacks that are somewhere in between the steps on a Uni-bit or otherwise not matching the bits you have at home.  A tapered reamer can be helpful in opening up the hole just that little bit extra.

[Hiwatt25]

I haven't read all the reply's so please forgive me if someone has suggested this as well. 

I recently picked up a small square from Home Depot "Despot?".  It was about seven bucks and it's been a big help to me.  Prior to this purchase I'd been using a full sized square (like a carpenter would use) and getting true lines was difficult.  Now, with the smaller square I can put straight lines across the top, measure for center with a clear ruler and place holes with a fair degree of acuracy.  Hey, we're hobbiyists after all.

http://www.homedepot.com  It's the Empire 6in Blade model square and you can find it in the hand tools section.

Another thing I like to do to hide inconsistencies it to "purposely" offset pots and LED's.  I think they look coolest when they are offset quite a bit.  It looks like an accident if they are just marginally left or right of center.  Just my .02 dollars.

Oh, and I bought the Irwin 3 pc set of Unibits.  I love them though I don't like Home Depot.  I once heard a retiree behind me say to his wife of Home Depot, "I never find what I want and I always leave confused".  Bingo.