It's a useful idea if you do have any concerns in this area…especially if you need to really extend the tailstock drill over the table for some reason.
Not the same application but this week I've been cutting up an old trailer that hasn't moved out of my back garden for about 20 years. My old angle grinder quickly packed up – so I purchased a new Bosch one (a very nice bit of kit) and managed to get most of it reduced in size but still needed to get the axle off the frame – it being very heavy and too awkward to handle on my own.
The bolts were rusted solid and I couldn't easily get at them being between heavy 'U' channel. A simple steel guide was turned with a 12mm dia x 15mm deep hole at one end (to fit the bolt) and a 5mm through hole at the other. This was fitted over the bolt and a centred 5mm hole drilled with an electric hand drill – which was opened up gradually to 10mm. I was then able to chisel off the remaining bolt end and continue step-drilling into the nut until it span off. I had four to do and it took about an hour – but I think it was much quicker/safer than trying to cut the heavy channel as access underneath and in other areas was very restricted.
So simple drilling guides have many useful applications..
Regards,
IanT