MinnFlyer is correct on all counts. A prop reamer is a normal tool for working with props. It is not just for "emergency field use." The point of it is to keep the hole centered. If you use a drill bit there is a good possibility it will grab the grain on wood props and move the hole off-center. On plastic/fiberglass/carbon props it's less of a problems, but the reamers work very well.

I've used a Fox reamer for years and haven't ever ruined a prop with it. Works great. Mine could stand to be sharpened though. It's reamed a lot of props.