DKR,
Boring machines not only work they work quite well. In addition they are very efficient and quick to set up.

A recent experiment:

I recently cut and raised a 5,000 square foot Traditional Timber Frame out of Northern Red Oak.

The structure weighed in around 35 tons.

We bored all of the joinery with a Millers Falls Boring Machine.

It worked well and was efficient in the green wood.

Past 4 1/2 inches was a workout and they don't call it a boooring machine for nothing (yawn, crank, yawn, crank, etc).

I have used the Millers Falls in a variety of species and it works well in all green wood.

Personally, I am not a fan of using 1/2 inch drills for morticing.

I would take my Millers Falls anyday over a 1/2 inch drill or the Makita Chain Morticer.

In the same vein I believe the Makita Chain Morticer is ABSOLUTE JUNK, compared to the European design.

Makita makes a European design, but its morticing depth is limited as its availability.

I do own a European Chain Morticer which I use often as of late.

I don't have an axe to grind one way or another on the hand tool vs. power tool issue, but I am intersted in actualising my own developement within the craft.

To that end I have experimented with different power and hand tools in real life (professional business) situations.

This has led me to the conclusion that the two best options are:

European Chain Morticer (hands down the fastest)

Traditional Boring Machine(hands down the coolest)
-Collin