While I don't want to spend too much of my time and money rehabbing old, rusty tools, I'm not sure you can find a quality hand drill anymore. I picked one up off of Ebay for less than $30.
It was a little tough to turn when I got it and, after taking the easy-to-remove bits off, I discovered a decent layer of schmootz on it.
I took out some WD-40, paper towels, a flat head screwdriver and an abrasive pad and spent the next half hour or so scouring what I could out of the nooks and crannies.
I dripped a bit of oil in the lubricating holes and behind the upper pinion to loosen things up. A little really does go along way. I wasn't brave enough to bang out the pins to totally disassemble the drive shaft, gears, and handle. When I get my hand on some ball bearing grease, I may take on that task to really make it a smooth mover. The only problem I have with it is that it predates a spring assisted chuck. Upon advancing the jaws, they hold plenty tight, but releasing said pressure doesn't always let go. I actually have to manually push a pin or 2 back a bit to release the bit. Not a biggy, I really don't think I'll be doing any major drilling with this. The 3/16" max opening limits is use a bit.
While it's nothing like what wktools produces, It'll work just fine in my shop.