Thanks for the replies chaps.

I didn't realise that you could get a drill press so cheap - looked at some on Machine Mart earlier...there's a branch just down the road from where I work, so i'm tempted to go that route.
I already have scribes/punches etc - thats not a problem.

Regarding the brackets for creating the frame - can anyone point me in the direction of some suitable candidates?

Going to look into the price of steel box in this area....i'm assuming that you're all referring to mild steel & not stainless?