To date I have not been able to bore a precise hole. Tonight was no exception. I had a piece of 12L14 about 2 inches in diameter and 4 inches long chucked up in the lathe and wanted to drill a 3/8 hole lengthwise through it. The 3/8 drill bit created a hole that is bigger than 3/8". What do I need to bore a precise hole? Do I drill undersize and ream it to spec? I have been using a boring bar for other jobs but coming up with a precise 1/4" hole would be an issue.