Gene, the normal old prop ream can be used in a good drill press. If you just knock out the piano wire handle then you can mount it in a press. My big one that is 10mm is already machined like a drill bit. Just run the press at slow speed. 10mm is usually for big props on gas engines from about 40cc so there is a lot of wood to remove from the bigger props. I still just ream them by hand. I have seen way too many props shift using a press and boogering up the hole. Part of my thinking is, what the hell, how many big props do I use anyway. I buy them one or two at a time. I reamed and balanced them when I had nothing better to do. When I was smoking it was simple, take a smoke break to relax and ream a prop at the same time. Maybe even have myself something cold to drink if it's the summer months. It isn't like I have a lot of big props on hand, they cost from a low of about $20.00 to about $40.00 for the engines I have on hand so it isn't like I stock pile 10 at a time. Don't over think it. A new ream is nice and sharp and makes short work of a prop. My reamer is in bad need of a stone but it still cuts nice and straight.
Charlie, I have those drill bits you are showing. They are made by Dewalt {Dewilt?}and don't cost a bunch if you get the set. They do get you on replacements. That tip isn't a step, it's a pilot so you don't need to use a smaller pilot bit. They are very aggressive bits and should be used with caution when drilling wood!!
Gene