The couple I have run, which look very similar to the one pictured, do have a spindle which moves in the z axis for drilling, boring, ect. with power or hand feed. In this respect they are very similar to a conventional HBM like a Lucas or Giddings & Lewis. The table however has very limited travel in the z axis and can only be positioned, that is to say it can not be fed by hand or power in the z axis. Not sure if all Devliegs are like this or not.
I know some (maybe all???) had a slick automatic positioning system which could be programmed to go from point to point for production work. This system was disabled on the machines I have used so I don't know any more about it than that.