My pillar drill only has about 45mm of travel. I just drill as much as I can, then stop the drill and pack the vice up with a bit of 16mm ply to finish the hole. If you've plenty of meat on the blank it's quicker and easier than keep swapping chuck and mandrel if you've only got one lathe. If you're doing a large batch, then it's probably worth doing them on the lathe, but again, my Axminster lathe tail stock doesn't have any more travel than my pillar drill so I still have to move the tail stock up on the bed each time. As you'll find, it's half a dozen of one and six of the other. Whatever suits you is best!
