I have been playing around with both brad point and aircraft drills, and have been able to get the 1/8" sizes to work out well, but you have to clear the chips often and take your time.
I find a shorter brad point bit helps me get centered easier when I start out. A shorter drill bit also limits flex along the shaft, reducing walking of the bit. After I get my pilot holes started out good and straight, I switch to a longer aircraft bit to complete the job.
ProfessorM - Good tip, thanks for another good tool source! Sounds like you have everything anyone would need in your shop, right down to the Zircon encrusted tweezers!
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