Hi Frank,
I had the little book by Andrew Smith, but i can’t find it. If memory serves me right I held the valve chest in my four-jaw chuck, then using the tailstock chuck I centred the hole, then drilled undersized and reamed it to full diameter. I then had a pretty accurate first hole which guided the drill accurately into the second.
Don’t tell anyone, but assuming the valve is allowed the vertical and sideways play it needs on the rod, then if the rod is slightly out of true it doesn’t really matter. The biggest source of problems is making the hole in the gland cover too small – it should be big enough not to bind on the valve rod in the slightest.
Finally, I think the ‘flatten the entry point’ bit refers to drilling the steam passages not the valve rod holes. I did these by supporting the cylinder in a wooden cradel shaped like a ‘crooked L’ to get the correct angle.
Neil