Recommended Tools and Machinery for Your Team's Machine Shop

[Monochron]

This may be a naive question, but what is the benefit of using an actual mill versus using a drill press with an X-Y table attached to it? I imagine that precision is the main benefit. Is it really worth paying $500 for a mill though, rather than having to take a couple reties with a drill press?

Or is there something else beneficial that the mill does for you, that a drill press just can't?