A while ago, I needed to drill 15mm holes for knock-down fittings, and 35mm holes for hinges.
I have a 15mm router cutter from Wealdens that will plunge (but you need to mark an edge for the hole, rather than the centre), and a forstner bit in a drill stand does hinges well. The router cutter has a third knife in the centre and produces beautifully flat-bottomed holes.
I agree for through holes you need to clamp scrap to the back, or drill a pilot hole through then do the finished diameter from both sides for neatness.
Used carefully those cheap drill stands (with a pair of plunge bars) do work really well. You can screw them down to a scrap sheet, which you can then clamp securely, so you get accuracy.