Having received a small "order" for a few engraved pieces of cutlery and LEGO parts, I've built a new version of the engraving robot. This one has been rebuilt to avoid most disadvantages of the previous designs, and is smaller, more reliable, slightly faster, and puts parts under less strain.
The drill point, a standard diamond-tip sort bought in a local hardware store, is the only part which is not pure LEGO. It is connected to the motor shaft via a small holder which keeps two rubber 2L connectors tightly together. The entire module consisting of a drill point, holder, motor and its supporting structure is actually moving while lowering the drill, and it can also be raised and leaned aside to allow easy access to the platform and the object being engraved. As before, the movement mechanism had to be rather sturdy to minimize backlash as much as possible, and the standard Technic frames did just all right for the purpose.