Wow, that's a neat video Peter! First time I've actually seen a Watts drill at work 
Did the HSM article include how to build the floating tool holder?
A lot of the floating reamer holders have a two-way dovetail, which allows the head to slide in either the x- or the y-axis at a time, but it seems like that would give the Watts drill a strange stair-step movement through the square template. I guess that doesn't matter, since the movement is totally random, and you just keep drilling until all the material is gone.
Jerry: on your Watts-brand toolholder, is the float constrained to one axis at a time, or is it one of the fancy ball-bearing guides that allow movement in any direction?

Did the HSM article include how to build the floating tool holder?
A lot of the floating reamer holders have a two-way dovetail, which allows the head to slide in either the x- or the y-axis at a time, but it seems like that would give the Watts drill a strange stair-step movement through the square template. I guess that doesn't matter, since the movement is totally random, and you just keep drilling until all the material is gone.
Jerry: on your Watts-brand toolholder, is the float constrained to one axis at a time, or is it one of the fancy ball-bearing guides that allow movement in any direction?
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