Drill Press Laser Centering Device

The laser cross hairs on my old Sears drill press stopped working so I thought I'd try to build a laser centering device I believe was invented by Dan Gelbart. A search for laser centering device should pull up a couple of video's of it in use.

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Seems pretty safe but use at your own risk and of course always wear safety glasses. Also the laser could come on unexpectedly when assembling or just bumping around on the bench or in use so use caution, the laser used is a Class IIIa device. I don't think I would want to spin it over 1000rpm.
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I've been playing with it for a week or so and I think it's a nice addition to have to my drill press and it was very inexpensive to make. You need parts from a s