The process has been around some 30 years. Initially it was called T-Drilling and produced an external collar. It produces joints ideal for producing strong leak-free joints by silver soldering – close tolerance and parallel.
Is it a good technique – certainly and particularly on sheet and square tube. Round tube ?
Is it viable for the model engineer? Depends on the cost of the drill bits.
One source of boilers stumbled across the flow drilling phenomenon by accident and considered a patent. But we have all used a blunt drill at some point!
Keith