agraffe reamed and in place /clamp drill or dremel bit?

[piannaman at aol.com]

Lots of agraffe discussion this month!
 
Thanks to those who gave me advice awhile back about reaming an agraffe down to size.  The agraffe is in place, the strings are level with the others in the piano, and the strings were reusable despite being twisted and untwisted a couple of times.
 
I used a block of wood with a 1/4 " hole drilled into it, and a small square of 50 grit paper glued to the top.  Good little jig...but it took lots of turns to ream off 1/16" of agraffe.  So I got to wondering if I could find or make a clamp drilll bit of some sort to hold the agraffe and spin it in the jig.  
 
Has anyone invented or does anyone know of a clamping bit that would work for this?  
 
Thanks,
 
Dave Stahl
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