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4. im not very confident a bout drilling with excessive long bits held
in the headstock towards a large piece in the tailstock.

If you take the fixed "steady" option versus having to adjust your steady
device in the banjo, the procedure would begin with boring a hole through
the "steady" using a short, controllable bit in the headstock or chuck,
assuring proper height and alignment. I use nylon for the bushing, but
something as simple as a PVC pipe cap might work if you were careful of
temperature and lube.

5. i was thinking of gripping the hollow centre woth my banjo - driving
it in and securing. but it need constant tightening to stop the whole
thing coming off.

6. so far i like the idea from leo - if i have picked it up right -
take out the barrel of the tailstock (and providing i can remove the
back end which i will have to check) replace the barrel with a turned
piece with tapered hole to fit hollow tail centre. i can then adjust
position etc. all depends on the back of tailstock - not fussed on
drilling it out -


Now you hold your lamp in a chuck, use your "steady" close as you are able
while still allowing the chips to fall and bore with a bit chucked in your
tailstock. Won't do a full meter, but will do a credible job on shorter
stuff.

If required, I'd go with one of the machine-made drill extenders,
personally. Lousy welder.