Thanks Rick.
Yeah, the problem is the bit size required for a close fit to the punch hole.
Standard point bits are easy to find in 1/64" increments, maybe some quality time regrinding the tip into a brad point style. I believe a letter drill "Q" is a perfect fit for mine, but the 8.5mm rod and taper to an 8mm tip works perfect and I didn't have to but anything new.
There is also the possibility of finding a section of tube that has an ID fit for a Forstner and OD modified for the punch, but that's getting complex. 
I'd assume if the punch hole is polished (Cotter pin in a drill with some 400G), one could just wrap a drill bit with tape for a good fit.