Brad point, I use mostly 1/8" for through wires. For weights and belly swivels 5/16, but you can get by with good sharp regular bits.Forstner, get bits the size of the eyes you plan on using 3/8 or 1/2".. That should get you started.
“It’s not up to the courts to invent new minorities that get special protections,” Antonin Scalia