"Bill" offered up this bit of pseudo woodworking wisdom

Thank you for the tip! I suspect a Forstner bit may not leave as good of a
glueing surface as a twist drill, but maybe good enough. I'm not sure. I
have no experience using Forstner bits, and I'm only guessing.
Surely a lot better than a spade bit, which was my first alternative
choice!

Bill, Bill, Billlll...., Deep breath now. Forstner bits are DESIGNED to
cut wood. That is their purpose in life. To cut holes that have a crisp,
sharp edge to them. Something that looks goods and performs well. Twist
drills, on the other hand, are designed to cut metal. And then they only do
a good job is sharp and are drilled with sufficient power, stability, etc.
Notice I said SHARP. Most twist drills are not sharp. You can use a twist
drill to drill wood. And if the wood is not too soft, you can probably get
away with it. But is not the optimal cutting tool for the job. And you
won't have a flat bottom, thereby weakening the glue joint.

Besides, it may be difficult to drill a good hole with a 1 inch twist drill.
I remember working with metal and needing to drill some large holes. I
ended up going to hole saws and squirting lots of cutting fluid on the
process. The bigger the hole, the more problems. Even in a drill press.
In fact, drilling holes above a certain size are dangerous unless performed
in a drill press.

There is a reason why I mentioned getting a forstner bit. It is because
that is what is used for this kind of thing. And if you were going to use
such a bit on metal, your drill press probably doesn't have a speed slow
enough to use it. And you chuck may not be big enough to even put the thing
into the drill press.

Buy a forstner bit. Use it. You need a set of a few common sizes any way.
You will the only person I ever talked to who got a drill press and did not
bother to buy some bits for it. Doncha know?? Big power tools are the
gateway drug. First you buy the tool, then...

Common strategy on this sort of thing is to buy an economical set. Then buy
good ones of the ones that you use most often. And remember to get
something to dress up the edges to keep this thing sharp. It only works
well if it has something of an edge on it.

If you don't do this, you work will suffer. You went to a lot of time and
trouble to buy that drill press and mount it on its custom base. What is
your excuse for not using it properly? (Or buying it presents?) And
regardless of your wife's perspective, if you do lousy work, everybody will
be ****ed off at you. And we will think of you as a woodworking WIMP. ;-)

Man up, buy the damn bits, get on with your life.

/end of rant