Gents,
There's a lot in what Custard says above, and I feel for sunnybob because from his other posts it's clear that when it comes to machine fettling he's clearly no dummy and because of his (geographical) situation he has to buy stuff that MAY not be up scratch - clearly often wasn't!
There ARE buts however - if we're talking pillar drills, in my own case I got really "lucky" with a cheapo which cost, if I remember correctly, the equivalent of about 150 quid. It's a Rexon (model DP 330A), is 12 speed (belts) 16mm capacity officially, rack & pinion table height adjust, bench top machine with enough physical capacity to do all I throw at (and I do - sometimes - fit a 19 mm drill in it). The chuck that came with it was not excellent, but for about another 50 quid I bought a better chuck (Rohm) and run out is less than a thou (inches). It's never given me a moments problem (I haven't even needed to replace a belt yet) and I doubt I could better it size for size unless I was paying at least 4 or 5 times as much. The only chance I had to "check" it was to look at an unpacked machine in the shop before buying mine.
BUT that was in Switzerland, and as said, at least 10+ years ago, and I've no idea if that machine (or it's equivalent) is available these days in UK. (And for Custard's benefit I am by no means a "fan boy" - I don't even qualify for the "boy" bit)
BUT (ON THE OTHER HAND): For a similar sort of price I bought a small bench top band saw, (Einhell brand) about 5 years ago, and while it would be unfair to call it complete rubbish, it did require a LOT of work by mods and strengthening, lots of Youtube looking and a lot of support from members here (thanks Steve Maskery especially, among others) + a Tuffsaws blade to get it to a point where it would cut small wood sections with any degree of "accurate success". AND I have to re-adjust it quite frequently to keep it up to snuff. BUT what other band saw could I buy at around this price, that would fit on a small bench top (space problem), and be any better? Sorry, as much as I really like the look of that new Record range for example, on a pensioner's budget (which means being careful about not spending on non-necessities - which however I try to "justify" it, does not apply to me and bandsaws), I just cannot justify paying to change the blooming thing.
I MAY have been able to find one on the SH market here, but A) the SH market in "hobby" machines is pretty thin here; B) I don't have the space for a larger "industrial" machine; and C) even if I found a suitable machine there's a good chance I'd have to work on refurbing that one too.
AND I could say exactly the same about my cheapo Chinese metal working lathe as I've said about the band saw too. I do now have a metal work lathe which, within it's structural stiffness limitations, works perfectly well (but only after HOURS of my own work).
So in summary, my experience is:
A) People like sunnybob and Custard are USUALLY correct, you have to pay more than the currently advertised "bottom of the range" prices to get "useable quality" straight out of the box. BUT keep your eyes open going round the shops as once in a while, you can be lucky and get a new machine at a low price which does perform without undue work;
B) Be prepared to wait for the "right" machine to turn up S/H, in the knowledge that even after waiting maybe a LONG time, you'll still have all the cost/hassle of shipping, AND the possibility of still perhaps needing to do some work on your machine.
In other words, keep your eyes open in the shops by all means, but except rarely, don't expect much; OR be prepared to either up your budget significantly.
OR (if you're not afraid of it and have basic hand skills and some tools) "have fun" working on (and learning about) how a band saw (or a lathe, or whatever) SHOULD have been made if it was not being cut down to a low budget by the bean counters and then tarted up to look much better by the marketing flower arrangers!
Off topic perhaps, but my Dad bought a Myford Super 7 (metal working lathe) for roughly 700 quid in 1946. It's not at all surprising that (until they went bust) the equivalent would have cost about 5,000 quid today. How much did, say, a car cost in 1946 and how much today?
Blimey, when I left UK in 1984 a fiver was "real" money - today it looks like a fiver's treated as if it was a 10p piece back then!