Last year my drill stand that I used with my 1970-something Wolf gave up the ghost so I went looking. I ended up with the cheapest pillar drill from screwfix - its £50 now but was closer to £40 then. It's noisy, casing vibrates no end, the angle setting on the table (pressed steel not cast iron) is far from accurate so you need to set it up with a square, took a while to adjust the spindle play so it ran straight, its horrible to change speeds because the belt cover is made of nasty thin stuff and the pressure you need move the motor almost rocks the bench, the slightly recessed start button round the side is awkward - stop button much better - and its BRILLIANT. For £40, less than most drill stands, I can get decent enough results for the small amount of pillar drill work that I do. Including biggish forstner bits as long as you feed slowly and give it the odd rest. I knew it would be a bit rubbish for that money but its less rubbish than I thought.
The Scheppach one you linked to seems to have some better bits, a brushless motor, switch on the front not the side, keyless chuck and cast table. I wonder though if its much better in practice, it looks very similar. Not seen one so can't comment but wonder if it takes a bigger leap in price to get a better piece of kit. The spec says 40mm spindle travel which might be a bit limiting, I find my 50mm marginal for some jobs.
I'm pleased with my £40 worth for occasional non-precision use, main thing is I can drill a wood turning blank for a screw chuck straight not 'almost straight', but if buying again I would look at the £199 Scheppach with pinion table adjustment which would save a lot of faffing about - for instance easy to crank it down to change drill bits and crank it back up in the same alignment. I'd be more likely to go for a Record Power - something like the DP25, but it is about double what you were planning to spend.
