I am not sure how to convert amps to hp into the idea of how much torque that press will handle. A 5/8" bit biting through really dense wood is going to need some fairly good juice.
I see it only accepts a 1/2" bit, so you will need a reduced shank bit for your 5/8" barrel drilling.
The other issue I see/don't see, is it doesn't say anything about quill travel. You will want it to be able to drop, I would think, 3 1/2" minimum for making duck calls.
I think most guys who don't have the room or money for a full size drill press tend to buy a 4 jaw chuck for a 1/2HP lathe or bigger, and drill on the lathe. Drilling on the lathe is much more accurate for sure.