I often get asked the best method to knock out the Shackle eye hanger hole to the larger size that we use and of course this could be used for other things as well.
You can use a regualar arbor and two hole saws together. There is just enough thread.
Our weapon of choice,
5/8" fine thread bolt beheaded and turned down to fit the chuck. 3 flats would be nice as you'll see in the video. Then, 5/8" fine thread nut, washer, 2 1/8" hole saw, 2 more washers and finally a 1 7/8" hole saw which is now the pilot.
With a regular arbor you can't use all the washers and won't need the nut. I don't like that as much since you end up with a very short pilot lead.
Pics.

You can use a regualar arbor and two hole saws together. There is just enough thread.
Our weapon of choice,
5/8" fine thread bolt beheaded and turned down to fit the chuck. 3 flats would be nice as you'll see in the video. Then, 5/8" fine thread nut, washer, 2 1/8" hole saw, 2 more washers and finally a 1 7/8" hole saw which is now the pilot.
With a regular arbor you can't use all the washers and won't need the nut. I don't like that as much since you end up with a very short pilot lead.
Pics.

I would have paid a LARGE amount of money just for the idea! 


did it with a alum cutting carbide burr in about 5 minutes per hole...