Hi Bry,
I have a vice that looks identical to that one, it was the 1st vice I used on my mill for a couple of years.
To be honest with you, I found using the vice to be rather frustrating, the reason was that, at least on my vice, the quick release mechanism did not give a full range of clamping ability. On mine the narrow sliding rack that the movable vice jaw would lock into did not have enough movement front-to-back to cover the space between the "notches" in the rack. This meant that I would often have to use a packing slip to enable the vice to be able to tighten up.
Having said that, I used the darn thing for 2-3 years, so it can't have been that bad

But now I have Vertex K4 4" vice which is sooo much better.
I still use the old quick release vice to hold parts for tapping in my tapping stand.
I guess for use in as a drill vice it would be ok, but make sure that the vice will have sufficient range of clamping movement.
Tim