All good ideas above!
The
transfer punch set is perhaps the best idea as they are probably cheaper than a set of drill blanks, and will do double-duty as originally intended. I happen to have a set of drill blanks since I have a machine shop, but truly, I may switch to using my transfer punches, as they are a bit
longer (watch out for the pointy end!
).
Some people make boring bars or single-lip drills out of the drill blanks. With some skill, it can be done with a conventional grinder.
Drill blanks can be used as accurate
spacers (as noted above), and can also be used to check to size of holes, much like a set of plug gauges. They are ground very accurately, contributing to their high cost.
I have been using my drill blanks to sand handsaw and plane handles/totes during restorations. It performs that task admirably. I also use
wooden dowels (as also noted above) for the sizes larger than available in my drill blank set.