Just got this unit done today! While the mag drill is great for it's ability to take it to a large work piece, it's not very good at drilling small pieces because it needs something to stick itself to. With this stand, you can clamp the small piece down to the table and drill the hole as the drill will magnetize to the table top when in use. This greatly increases the mag drill's uses.
The top table has a pocket for the drill to sit in (gray part). The purpose of this is to locate the drill and to keep it from getting knocked off the stand when not in use since the magnet would be off. The electro magnet is what will lock it in place during any drilling.
The base is made from an old 60's Chevy brake drum and some 2-1/2" x 3/16" square tube with a 1/2" top plate.
Other modifications and improvements will be made if they become needed. For now, I think it will do all I need as it is. A larger table or a lowered table may be in the future if it's needed.
Color choices were made to match the Steel Dragon mag drill. I also made up 2 vinyl graphics of their logo and cut out using a Cricut machine and applied them to the sides of the post. (it almost looks store bought now!)