I'll throw in a vote for using a hole saw. And add that they are good
to have around, even if they are not used that much.

As far as using a hole saw, there is something very important to know:
the teeth will become clogged with chips VERY quickly - maybe in 1/2
revolution, if you're actually feeding & not just rubbing the teeth G.
You can "peck" to clean the teeth, but better is to pre-drill a couple
of small clearance holes just inside the circumference of the hole saw.
For your 1" holes, I'd drill 2, 1/4" clearance holes 180 degrees
apart. Makes a BIG difference.

Bob