No, Morse taper bits have a taper on them with 2 flat sides that come down into a V shape. They just insert into a socket that accepts them, no drill chuck to tighten.

http://en.wikipedia.org/wiki/Machine_taper

I had a set of morse taper bits cut down to 1/2" straight shank. My neighbor has a grinding shop that he can machine these down. If you need a set milled down let me know and I'll see what kind of price he comes with. I bought a upright rockwell drill that came wiht incompatible #2 taper bits. He cut them down to straight shank and they work perfect.

I'm looking at a Delta press that has a Jacobs 33 keyed chuck on it.

What bits will fit and what won't?

Jess