I did quite a bit of research recently on the question of drill presses and was all set to buy the Ryobi when I found a local "deal" on a used DP. I think the Ryobi will do a good job for you and given your location, it is smart choice economically.
Just checked the Ryobi web site and discovered that the DP you are looking at is a different one from the one I researched.
Go to: http://www.homedepot.com and do a search on DP120.{I tried a direct link to the item; but they never seem to work for the HD web site??)
Here are a couple of things you might want to consider. Most people seem to think the laser is a waste of time....useless. Adjustable speed feature is convenient; but not very useful as a practical matter as you probably won't do a lot of speed changing. When changes are necessary, changing the belts manually is not a big hassle after a little practice. The adjustable speed mechanism is another potential point of failure/repair. And my biggest concern: The min. spindle speed(500) is a little high especially if you plan to bore big(1/2"+) holes in metal or use some of the larger Forstner bits in wood.