what's the best way to ream out 1 1/16 holes to 1 1/4

[Dr Stan]

Its literally been years since I used this type of drill bit, but it just may do the trick for you. Check out this page in the Travers Tool catalog:

http://www.traverscatalogs.com/lg_displa...aster_2014

You should be able to add an appropriate sized pilot to the holder or maybe even buy one. See:

http://www.traverscatalogs.com/lg_displa...aster_2014

I remember you saying you have a mag drill, so this set up should keep you in alignment and enlarge the holes as desired.