looking for recommendation on how to drill a 1" deep 5/16" diameter
hole in the end of a steel 5/8" bolt. it is crucial that the hole be
centered and parallel to the bolt axis. i have a small craftsman
drill press, plenty of drill sizes, and a starret auto punch.

the best idea i can think of is to bolt the 5/8" bolt on to the drill
press table and hope the press table is perpendicular to the chuck
axis. got no clue how to find the bolt center so i can punch it.