On drilling 304:
I get by with the cheap titaninum-nitride coated bits from Harbour Freight, and use a drill press at 330 rpm and plenty of heavy grade cutting oil. Take the time needed to make the cut, start by grinding a flat so ye ain't rollin' offa the curve.
Start small, 1/8" then step out as needed.
Plan on 5 cuts per bit then throw 'em away.
This business ain't fer folks skeerd of spendin' the turtlebucks.
Turtle