Since this is the "Tips and Tricks" folder, and you're fixin' to do some drilling, I'll pass along something else that's probably been mentioned already but bears repeating.
If you're not using a drill press that's been set up to do what you're intending to do, you need some depth guidance. Otherwise, it's frighteningly easy to drill too deep, sometimes to the point where you come out the other side of a piece when you don't want to. That's not often a problem on guitar bodies, but I'll wager there's more than one story on this board about drilling through headstocks when trying to install tuning machines. To prevent that, they make what they call "drill stops" or "depth gauges"
They're essentially just collars you put on the drill bit and tighten into place using a set screw. Depending on where you tighten them onto the bit, that sets how deep the drill is going to go. They're quite inexpensive - the set pictured above is less than $4
here.
But, you don't have to go that far. $4 is a lot of money, after all. It's almost as much as a six-pack of Budweiser, fer crissakes! <grin>
A simpler, less expensive option is to get some masking tape and just put an indicator on the bit, like this...
See where he put a bit of tape on the bit? Now he knows that when the bit is that deep, he should stop drilling and back out.
Yeah, yeah, I know. That's what
she said <grin>