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I Think a point most people miss is:Buy the proper tool that will do the best job,Good tools are a liftime investment,(buy once,cry once)

You need to be very accurate when drilling pivot holes.not so much so when removing old pins by hand.

As Richard says they can be usefull at times,if mounted on a press type stand and the travel is accurate,it should be fine for scales.
I never use a drill press for removing pins,do it all by hand...