Saad,
I don't know what is "traditionally" used since the one that I did was the one and only. Professional gunsmiths with English training like Mr. SDH and others may have more direct experience traditional methods and likely have done it much more than I have. As a former machinist, I can tell you that a reamer will tend to follow a hole axis, where a part that you've spent time indicating in and want the axis of the new hole to follow that axis, will be best done by singlepoint boring.