In article , Roy Smith
wrote:

"R. Pierce Butler" wrote:

Lee Valley has two 4" sawtooth forstner bits. One is $27.00 and the other
is $40.00

http://www.leevalley.com/wood/page.a...at=1,180,42240

They've also got a 4" hole saw:

http://www.leevalley.com/wood/page.a...at=1,180,42316

for $22 ($34 if you don't already have the mandril). So, the question is,
given these prices, is there any reason you would want the hole saw in
preference to the saw-tooth bit? I would think the bit would be superior
in just about every way; stronger, heavier so less heat buildup, less
likely to bind in a deep hole. Is there any task the hole saw would be
better at?

I wouldn't want to use a 4" bit in a hand held drill if I wanted a
precise hole.

I'd use a saw to rough out the hole, then a router with a guide bushing
and template.