3/4 drill or hole saw?
"For the cost of a new bimetal hole saw you can take it to a machine shop. An end mill in a Bridgeport mill is the proper tool. "
He's right ya know... On both counts
$10 worth of gas should get you to the machine shop...
And the end mill on the Bridgeport will make clean work of it!
Sorry, couldn't help myself on that one!