My friend loaned me a tool to drill a 2" hole in steel .The tool is super drill farmpac from Practool Products Australia.I drilled the required 1/2" hole and then with some trepidation set a 1/16" cut and started,it cut through effortlesly ,I finished up with the required hole in no time.After looking at the vidio on there web site I could have used much faster speeds and used the drill press.It beats step drilling until you have to use the boring tool.In future I will borrow this tool and finish the last 1/16" with a boring tool,it will save me hours.If you have not heard or seen one of these tools look at their web site it's a great tool.
Frank