I think the thickness of the bit matters a lot when you are having wandering troubles and starting out perfectly in line will help tremendously. I have the best luck with a 5/32" bit. An 1/8" bit is good for shorter plugs but tends to wander on a longer plug. The beginning first 1/2" to 1" have to be dead nuts, everybody does it the way they are most comfortable with. I use a lathe and have no problem, I can also get by with a hand drill once the ends are started on the lathe.
the advice you got so far from others is what you need to know. Start with short bit , then go to a long one and see if that helps.
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