Your idea should work, but you'll have to relieve the cutter if you
want a decent finish and expect the tool to go the distance.

OK, that sounds like it should address a number of my concerns by
making my cutting tool more reliable... Would it be okay to leave
a short lip to allow for resharpenning, or am I actually after back
relief of the cutting edge for proper cutting geometry?

If you have some type of device for holding your cutting tool, or
intend to buy or make one, why don't you consider buying a drill blank
to make the cutting tool? They're not very expensive and are of the
highest quality, heat treated and ground to size.

Excellent idea. Also, if drill shanks aren't hardenned, would a
quench and temper to straw get me where I need to be? For a small
drill shank, I would think this should be possible with a propane
torch (don't have oxy-acet).

Rough first, then go back for finish cuts.

This sounds very sensible.

Great idea you have, but it might be a bit taxing of your ability if
you have little to no experience. No matter, just keep trying until
you get it right.

And little to lose except time and a few materials. OK,
and thanks for the sanity check! I'll be sure to get back
to everyone with my results, good or bad. If I don't get
too caught up in the project, I may even have pictures...

Probably won't have time to do this until after New Years,
so if anyone has other ideas, feel free to chime in.

--Glenn Lyford