I tried making one out of 4140 as-forged the "right" way. Somehow, it didn't work out well. The endmill just stopped cutting. Then, the TechShop went out of business. I'm lucky I didn't end up holding the bag on any loans, memberships or lost items. I hid the partially done boring head, and am ashamed everytime I see it. During Covid times, we are encouraged not to needlessly beat ourselves up about perceived failures. Anyway, I saw this cool post on homemadetools of one made out of barstock. When I really needed one (for a single hole), I made it out of junk cast iron and used an orphan 3/8" shank no-name brazed carbide tool. That thing worked great, and I used it one more time, again with excellent results, but this time with a right hand tool for turning a stub on a lifting eye that was too unwieldy to chuck in the lathe. I just run it slow and take my time, and it hasn't blown up yet. Actually, all the parts in serious tension were made out of carbon steel barstock.