Im wondering what is meant by 'most of the wood'; in what species, how large a mortice and with which morticer. I'm guessing Makita... ?

A manual boring machine will have the fastest set up time but bore slower and leave the most material for final cleanup.

In EWP I can get the boring done with my Millers Falls in well under 5 minutes for smaller mortices. However one of the very first mortices I bored on my house frame was in Hickory (a 2" mortice 4" deep and 6" long), I have no idea how long it took but it was definately more than 5 minutes.

Fortunately most of my hard wood mortices were 1.5" and the bulk of my addition is pine.

PS: I wouldn't trade up my Boss and 3/4" peg hole bit for anything I know of that will do the same job.