[roystur44]

Using a drill press to get a located hole I suppose one could use a height gage to scribe a x y on to the piece. Then use a center punch and a center drill to get a good start on the hole. Then I would take a .257 drill bit to drill a pilot hole. Once you got the pilot hole one would use a ground c'bore to the press fit size for the bearing with a .250 pilot to guide the cbore.

See this link to see what I'm talking about.

http://en.wikipedia.org/wiki/Counterbore