Tony,
Drilling with the lathe is the easiest and most accurate. Slip showed me how at the plug-get-together, thanks Slip.
I found a 1/2" drill chuck with key and #2 MT arbor for my Jet mini at this place for $6.00 !!! It works great. I bought the same chuck last year for my drill press and the quality seems pretty good.
http://wttool.com/Merchant2/merchant...ode=18500230p0
Hopefully with the pics from Capesams you will be on your way.