Must be much faster than using the jacobs in the tailstock like I do now..
Considering Jacobs chucks...
Have you heard of or used taper shank bits? They fit directly into the morse taper of the tailstock (or the headstock)
Since I discovered them they are my first choice for drilling with the tailstock.
One reason is I don't need the jacobs chuck.
Another is it avoids the unnecessary length and possible compromises to precision.
Also very quick to use and change sizes.
The down side is it's an additional cost, but might be worth it for sizes used a lot.
One other thing is the smaller sizes use a #1MT and need a inexpensive adapter.
This picture compares the total length when using a small diameter standard twist drill in a jacobs chuck vs a taper shank bit, this one with a 2MT adapter::
I like using them so much I found sources and got sizes from less than 1/8" up to 1".
I first saw these when Rudy Lopez used one to get a start on hollowing a goblet. He used a 1" bit and cut it off short and resharpened.
Some taper shank bits. I think I now have most sizes in 32" increments and some in 64ths.
A 1" bit at the top, an #1 to #2MT adapter in the middle, smaller bits at the bottom.
Another thing about drilling I can't stop myself from mentioning is starter holes, especially when drilling deep holes or those where precising is needed. I always drill a starting hole with a "Center bit" then switch to the standard bit. Center bits are short and stout so they can't flex.
A set of center bits is cheap - will start even a long bit precisely without getting off a little and risking some wobble which can make a bit get off further by following the grain in a spindle. My drilling has improved since using these.
JKJ