A movable spindle tool machine, such as a printed circuit board line drilling machine includes a base and a spindle mounted to the base. A magazine is mounted proximate the spindle for storing a supply of tools. A pitch independent tool changer is moveably mounted relative to the base for transferring tools from the magazine for insertion into the spindle. A tool locator is mounted in line with the spindle. The tool changer is operable to initially transfer a tool from the magazine to the tool locator to align the tool with the spindle and thereafter transfer the tool to the spindle for insertion into the spindle. The spindle is mounted to a nested outrigger guide. A positioning system can move two or more spindles simultaneously. A bit detector in a pressure foot button uses fiber optics to detect broken bits.