Not Done It Yet –
Carbide drill. Thank you – worth a try. I wonder if a new masonry-drill would touch it? I know the tips on such a drill have no , or negative, rake, but nothing ventured and all that. At least unlike a sheared stud, a cutter has a centre-hole.
I can assure you I have tried to buy replacement collets but they seem rarer than poultry-dentures!
Silly Old Duffer –
I agree our hobby still clings to old ways of doing things but sometimes that's more necessity than choice, often to match whatever we are building, or our own machine-tools and skills.
Our projects are obviously choice, whether a miniature traction-engine whose prototype was commercially obsolete in 1920, or a gas-turbine to the very latest 2020 design.
Even if you are criticising instead our usual methods, most of us have to use what tools and equipment we can afford and use; and very many model-engineers are anyway perfectly happy to follow plans that could have been first published decades ago, to replicate in inch-scales an even older, British-built machine. Though I admit oodles-of sixty-fourths from random data points is a pain when using a milling-machine with "thou" dials and decimal DRO!
Few of could afford NC machining-centres and SolidWorks software even if we wish we could (and had the space). As for using BSW threads and other old standards, so what? It's our choice whether we use modern specifications and all-mm designs on CAD prints; or follow without deviation (hesitation or repetition…) 1960s drawings by LBSC or Evans. If you are making that traction-engine to exhibition standards you might use O-rings in its internals, but would you plaster its visible bits with modern details like embossed metric screw-heads, 'Nyloc' nuts and circlips? Or it wrong to make a miniature of an Edwardian machine anyway?
And yes I do know BA threads are metric….
If "rose-tinted nostalgia" in a hobby is wrong, then presumably anyone who learnt the piano should never attempt a Classical sonata; anyone who learnt to paint should abjure portraits….