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I agree about various self-reversing tap heads; for big round/ box column drills. Overall length too bothersome in milling machines to suit me.
There I use a 5/8" shank Hardinge TT Tap Driver. When quill stop lets the tap turn another .070 or so of depth, the clutch disengages, and signals operator to reverse spindle. Very compact, about same as a drill chuck. And works just as well in lathes. And I never power tap in drill chucks.
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Briefly on my radial drill I had a pantograph arm fixed to it with a champher ing drill mounted on it I could change out the head and mount a hydraulic tapping head Now that was the meow of the cat The heads could be changed like the tooling on an aloris QCTP Drill the holes with a drill guide , flip the guide out of the way. T hen champher , switch out the heads and tap all of the holes without ever moving the part
The drill presses I have now do not currently have reverse but that is one thing I really need to change . I am also thinking that the handle switch that Almarghi made could be installed on all 3 handles but as momentary contact switches the forward position could be interconnected to a latching relay while the reversing position would break the contact and if held in the on position would run the drill in reverse then no matter which handle was at the comfort O'clock the switching control would be a thumb's flip away.
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On my drill press I put a foot switch and then a forward - reverse switch on the motor terminal box.
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I need one of those reversing switches for when I drill the hole in the wrong place!!LOL!
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Re-visiting this, prompted from recent email.
Resolving the difference between deep drilling and tapping which most often is shallow. A foot switch eliminates problem of dangling wires; sufficient to be wound up in spokes or around handle shaft, for on-off. That will allow a pair of micro switches [or on-on and linkage] to signal forward and reverse.
For drill press, I'd avoid a footswitch with two paddles like plagues, yams and left leaning politicos.
Thinking about those, seem to be in proper order. A true plague could be anytime of year.
And Thanksgiving occurs more often than elections.
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Do you have more pictures like a side view of your drill press showing the full handle?