I believe Milwaukee makes a magnetic, portable drill press, that will work great for it.
I don't know what size hole you are using, but the knockout tool that lostlineman2 suggested would need a bigger hole torched out than needed to get the back piece in. You would end up having to cut a big hole and then a slot to slide it down in to.
If you do use a drill bit, since you have so many to drill, I would suggest getting a pilot bit and the best bit you can buy in the final size you need the hole. You can use water to cool the bit. Keeping the bit cool - not actually lubricating it - is the key to keeping it sharp. Also, get a drill with a good slow speed on it like 600-800 rpm - that will allow the bit to last longer.
Good luck.
Vic
Re: metal poles
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