That's some really cool stuff. When I was a kid my grandfather was buddies with this old guy in Grosse Pointe on Lakeshore Drive and his basement full of trains. I mean he had TONS of them. I had so much funs. I bet his family still has a lot of the stuff somewhere.
Your DRILL PRESS is a bit LARGE for model train work !! lol It looks durable for sure but not really suited for Small drilling applications . First off its Not accurate enough to hold tiny drill bits and Secondly the spindle speed is way to slow for drilling Number drills . It may be usable for larger drill bits ,say .125 " 1/8 dia or larger but drills like .050 dia which I use often when working on Freight cars and Locomotive chassis etc. But nevertheless your work space seems "Workable" : )) Thanks for sharing ! Cheers