there is much less room on the inside of the block than the outside. if you are revving a cold motor to 6k a 1 inch passageway isnt going to save you. lol
I would use a 9/16" extended length drill with a 7/16" non- cutting pilot abt 3/8" long. Should suffice & keep hole on the straight & narrow.
My cousin, who has his own machine shop and builds steam engines. He provided me the 16" long 1/2" drill bit to drill my 350. As we were drilling the long hole, he remarked how easy it was to drill the 350 block. We did it with a 1/2 battery drill. Maybe a Makita? It took us maybe 15 minutes with checking it periodically.
i did mine on a bridgeport mill to make sure it was straight. yes , running at very slow speeds and some cutting oil it cut very easy. and yes its sold. shipped today.