I think the drill will do a fairly good job if set up right. Don't run the lead coulter too deep or it will make a mess. Check the No-till farm forum or Machinery Talk over at www.agriculture.com for more info.
John, I have run a GP 10'endwheel notill drill for three years. like you I couldn't justify the price of a Deere. Other than it plugs occasionally in corn stalks with the 7" opener spacing I love it. It is a simple, durable, accurate machine. With bulk seed 50 acres a day is a reasonable target. I pull mine with a 80hp tractor and have had no problems even on 25% slopes