Use a plumbers bit... similar to a forestner but with a lead screw. No effort needed. I am all about doing it how they did 100 years ago... but to make a profit I like to use power tools over hand powered tools when ever I can. A hole hawg with some masking tape will beat a boring machine over the long haul. One mortise is one thing... take the average over 100 mortises into the frame. You will find that power tools will be more effective. The more frames you add...the more profitable you want to be you move from a bit and brace to boring machine - makita chain mortiser to a cross grain mortiser. If you are doing these frames for pleasure go ahead and bore them...
