With the right spindle on my machine it probably would, but the reason I went with that overall layout was I wanted a large cutting area for sheets of wood, but still be able to mill with it.

If you don't need anything that large then a either a regular mill style (column at the rear XY table in front), or a fixed gantry with moving table would be better.

Either way you would need a spindle with high torque and low rpm, in the hundreds of rpm for the annular drilling.