[TheForge] 2 things

[ljudes at verizon.net]

2. What tool would help me drill a centered  
hole into the end of mild steel rod? 

Clamp two boards together in your vice.
Fasten one end together, put a hinge on the other end.
Drill a hole slightly smaller than the size of the rod, with the hole centered in the line where the two boards touch.
Loosen the end that is bolted/screwed together.
Insert the rod into the hole.
Re-tighten the bolt/screw.
Insert the drill bit sized to the hole you want in the rod.

The boards will clamp the rod to keep it from spinning.
The hole in the hinged board will keep the hole aligned with the drill bit so the hole doesn't wander (assuming the bit is in good condition).
The critical thing is to return the "holder" to the exact same position each time so the hole is centered in the rod.

There are certainly better ways, like making the jig of metal instead of wood, placing a stop to ensure exact placement of the jig each time so the hole is centered, etc.

Now, if you have a few bucks, check out the vice pen turners use to hold their pen blanks to drill out the center of the blank prior to placing it on their wood lathe.  I got one for about $40 bucks and you might do better on Ebay.

Good luck.