In my humble opinion unless you use the 'unintended mechanic' of enchanting your drill, the pickaxe is almost always better. You can wear a decent chest piece and still have max efficency, you can have silk touch or fortune depending on your tastes, it has the scanning ability and I think the drill animation is weird.
This, so much. The drill ain't got nothing on the TC pick. I can't believe they "fixed" the enchanting "exploit". It was the only thing which made the 0 chestpiece armor worth it.
The pick is much better, sure, you have to enchant it first. But once you do, then your pick troubles are completely over. Lasts for ever due to repair - which is comparable to drill recharging, just better, because you don't need to go home to let it "recharge". You can enchant it with either ST or Forture with relative ease. (As compared to book enchanting where you can spend stacks upon stacks of books to get a single one) and you can actually use armor with it, that isn't the graviplate.
Don't get me wrong, I love it, but it's pretty gimped now. Its only saving grace is that it's pretty good for mining soil type blocks.