drilling larger holes in aluminum

[James3245]

We do a fair amount of drilling holes in 1x2in tube stock. Sometimes many holes for lightening purposes. We've succeeded various ways - I'd like to know what is best practice with:

3/4in and larger diameter holes in 1/8in aluminum stock

Two specific questions when using a drill press:

a. what drill bit is best? hole saw bit, large drill bit, step drill bit, other

b. what is best technique? (pilot hole? oil? other recs.)

I'd like to settle on one tool and technique for my team and I would appreciate advice from experienced machinists.

Thanks!