Step 7: Drill!
Check for the RPM setting that matches your material and bit choices, then set your press.
When you're drilling, use both hands on the quill feed (that's the wheel that lowers the bit.) If you're worried that your material might move if you don't have a hand free, better re-clamp!
Ease the bit into your work, and after you've cut for a few moments, lighten up on the bit to cut chips free. Keep this "pressssss-lighten, presssss-lighten" rhythm until you're through the material.
How will it feel? With decent steel and the right RPM setting, you'll hear a "shuh-shuh" sound, maybe a low scraping sound, but the cutting action will be smooth and leisurely. Any rattling or smoking means you're not working optimally; squeeling or grinding means you'd better stop and recheck your configuration.
and... YOU'RE DONE!