A couple of notes on hole boring in stocks.
A Shopsmith works pretty well as a horizontal drill press. You can block up the work on the table and clamp it rock-steady. Eyeball the center line marked on the outside, and you will come out very well. Of course a lathe, center-to-center works even better.
Use a "gun drill" to make the through-bolt hole. It's drill rod of proper diameter cut to about a 45 radius on the business end, slightly relieved to form a cutting edge. Before cutting the radius, mill a lengthwise slot in the rod taking out a quarter section, 3 or 4 inches from the end. This is for the shavings. These bits go slow requiring many in and outs to clean chips, but they don't wander.
Have fun and good luck.
