I keep one in my tool box for clean-up but never thought about using it while boring. Great idea. I also have about a 3" tip section that broke off a very small telescoping magnet (the magnet itself is smaller in diameter than a pencil eraser). Don't have a clue where I got it, but I've used that more often than I would have ever imagined to clean out chips in tight places.
Air hose works great, too, no doubt.
Regards