"I know there are lots of pics and designs but I'd like some feedback from you who have used yours a while now. Thanks!"
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Drilling, whilst a sophisticated necessity, is often treated like a step child.
Ignore runout, material prep, layout, work isolation, and indexing and your hole could wind up anywhere.
Build a crummy fence and expect adversity. They must be straight, square, & inflexible.
One size does not fit all; make several. One for work on-edge the others for better indexing, clamping, flat work etc.
My primary fence is aluminum & plastic, pivots on one end and slides parallel on its own ways.
Build a top out of wood or material that can suck up moisture and you may lose precision, accuracy, & squareness. Would recommend ground, flat aluminum for durability, dimensional stability, and rigidity.
Provide back up material for through drilling and add another measure of error potentiality.
In the machine shop, rarely is material drilled on top of waste; it's not done.
There are ways of accurate through drilling without a plug stuck in the table.
The less you insult your surface, (tee-slots and plug excavations e.g.) the more accurate your drilling will be.
No doubt, if you're drilling for lag bolts and sheet metal screws, most press accommodations will do. But drilling so you can use a fastener to hold two things together without much slop takes care & time.