Are you locking the slides before drilling?
With an older, lightweight, mill there are many potential issues from wear, imperfect adjustment, not quite tight enough components or even, as its a Far East import, over wide tolerances leading to more play they you'd ideally like in certain areas. Factor in the almost ceartainly imperfect technique of a novice user and finding the source of the error is like walking through a minefield blindfold.
Locking the slides will at least ensure that the machine stays where it is put during the drilling operation which will help narrow things down a little.
Its worth setting up something larger and putting holes at the quarter position as well as the middle. If they are all out by the same amount in the same direction odds are its a technique error rather than machine. But then you need to sort out whether its purely you doing it wrong or whether your technique cannot cope with machine or set up errors. Sort of situation where you get an expert friend come in to help out and he promptly just does it right "Whats problem, mate." Which is irritating. Especially when he walks you through it and you get that D'oH moment.
#1 for Garys advice. Check the simple and obvious stuff. Whenever I've spent hours on a proper puzzler the cause has invariably been something so simple that it was not checked on the "It can't be that" principle supported by "I know I did it right".
Clive