Lou: I have seen tabletop drill presses that have a 3-1/4 quill travel. These things are heavy, about 100 lbs or so. Prices that I can remember range from about $80 at Big Lots, to approx. $180. To me they appear to be just a floor model with a shorter
column.
As for saving space, I am not sure. The footprint on the floor models is small. You can reclaim the floor space by building a cabinet under the table. That way you will gain some storage. This is what I am planning to do.
The drill press I have has only 2" quill travel. I routinely drill much longer blanks with it by drilling as far as I can, stopping the motor at that point, loosening the vise, raising the quill a bit, and then reclamping. Not the best way to go, but has done the job for me.