Get a dial indicator and place it in your chuck, hold it by the cover for the opposite end as the pointer.
Carefully place on stock that is in vise, drilling off end of vise or on parallels to provide clearance on bottom.
Move table to get the center via the peak on indicator.
Get a 2 flute sharp end mill and place in mill, in chuck will be fine.
Touch off work to make a small flat spot.
Next either center drill or SHORT small drill placed in chuck with minimum stick out.
Set rpm a bit high and come down with a gentle tap, this will make a dimple.
Set rpm correct and drill deeper.
Change to larger bit, maybe 1/4 and drill through.
Question, do you have end mill final size?
If yes, next drill hole ONE size smaller than final size and use end mill for final.
That will insure straight and round hole.
Or drill to final then us end mill to clean up.
We Mahe a wheel hub interface that had 8 3/4 inch holes on 7 inch circle.
Made test part in wood and drilled with end mill, it fit so did steel part.
Drilled via a few steps, final drill with drill bit final size, then end mill.
One would think it would not cut much but a lot of material was removed by the mill.
Part was perfect fit.
No photo of end mill pass...
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