Look at the site Dick brought up. Notice the one shown has three steps in it, that's SAE. The next one down has four steps in it, that's metric. I only know one person using a drill press to ream his props. His press is set up with a jig that holds and centers his props, works for him but he spent a lot of time getting that jig set correctly. I buy new props, balance then toss in my flight box or prop box. When it's time to use a new prop is when I ream it, not ahead of time. I never know what engine the prop will be used on so I don't know the shaft/crank size ahead of time. It only takes a couple minutes of swearing, I mean reaming out at the field to get the job done.
Just a couple twists of masking tape will tighten the prop up on the shaft. That's what the roll of masking tape in the flight box is for.