Of course there are always several way's of doing things...Here is my input
Typically you'll drill the hole undersized and then step it up with a reamer...
At home I will typically "back the hole up" with a block of wood while drilling with a carbide twist drill...Then finish up finish with a reamer...
At work we use Dagger Drills...Of course we are dealing with allot thicker laminates than you'll ever see with the R/C stuff...The hole is drilled undersized and stepped up using a reamer...
I havn't invested in any Dagger Drills for my home projects yet...But I will eventually...They are wonderful...But sorta expensive...
I just did a real quick Google search...Here are a couple of links you may find interesting?? (If I find any better ones..I'll post them later)
http://composite.about.com/library/weekly/aa991028.htm
http://www.daggerdrills.com/servlet/StoreFront
http://www.gandtrack.co.uk/html/carbon_composites.html