If your work requires you to flatten thin pieces of wood, but you don't have the space for a planer—or you just can't afford one—here's an intelligent alternative if you've got a drill press. A company called StewMac has been providing tools to luthiers (guitar manufacturers) since 1968, and here's their Safe-T-Planer:
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I've heard that non-drilling items like spindle sander attachments for drill presses are a bad idea as the bearings aren't meant to withstand lateral forces over time; but as the Safe-T-Planer is only removing 0.005" at a time, the stress on the bearings is probably minimal to non-existent. And at just 50 bucks, this thing looks like a steal.