Sort of, can be.

However, one must also have a jig attached to the table if a table mounted model or to the drill table if a standing model.

What is important is the following.

If a regular drill press, over 4 1/2 inches of spindle travel(distance drill bit can move up and down).  This allows you to change drill bits without taking the ball out.
If a regular standing drill press, this allows you to bolt on a (typically heavy) jig.
If a regular drill press one needs sufficient throat size.  This is length from drill bit back to the neck of the drill press.  If a drill press has a 12 inch throat this means that the drill bit is 1/2 of this distance or 6 inches from drill bit to the neck of the drill press.  A ball has a radius of 4.5 inches so this should give enough distance(sort of, but not enough in practice).

In real life I have a standard drill press, with adjustable speeds, a thick and strong table to hold the jig I have, a 17 inch throat and a 4 3/4 inch spindle travel.

I have a Delta 17-365 that I got from www.deltawoodworking.com.  At the time shipping was included, some states had no sales tax applied.   And at that time they guaranteed I could return for ANY reason in the first year.  Cost under $400.

REgards,

Luckylefty