Thanks, Eric.

I meant to point out that while I used a CNC to cut out the jig, it can easily be done on the drill press by,
  • Clamping a piece of scrap for the jig onto the DP table
  • Drill the 1/4" through the scrap
  • Without moving the piece, swap the 1/4" bit for the forstner bit of the required size
  • Drill the counterbore part way through. 
  • Add a short stub of 1/4" dowel for the centering pin