Low-Tech Tech - HELP drilling and tapping tiny holes!

[fulloflead]

In the spirit of Low-Tech Tech, I need some help.

I want to learn to drill and tap tiny holes in order to move pocket clips by using my small home workshop and home-tools.

I don't have anything close to a drill press and I've never drilled and tapped a hole in my life, but I'd like to be able to move pocket clips on my knives. Am I dreaming?

Is it possible to do with a regular drill or dremil just by buying a few inexpensive tools that would fit into a tiny bedroom workshop?

Please help me in my beloved Low-Tech Tech knife/gun workshop by teaching me how I can do such a thing myself.

Here are some projects I'd love to accomplish:
Convert a Timerline Wortac from tip-down to tip-up. (Steel liners)
Convert an old Microtech LUDT from tip-down to tip-up. (No liners. Annodized aluminum handles.)
Convert a Benchmade Pinnacle from tip-down to tip-up. (All-Titanium framelock.)

1.) Can I do it without a drill-press?
2.) If so, what tools do I need beside a good drill or dremil?
3.) How do I do it?

4 1/2.) If not... On the (VERY) off chance I can borrow the drill press from work how do I do it?
5. In what ways can I really screw up a job like this and what should I look out for?

Don't pull your punches if I'm dreaming! Tell me so. Don't send me down a path that will lead me to phucking up some good knives. (But, I'd definately experiment first on a cheap-o knife.) I don't want to go willy-nilly into this. That's why I'm asking.

[Vagrant]

In my own opinion I would do the job on a milling machine to get the extra ridgedity. A drill press would work but the mill is better. The minimum I'd use would be a Dremel with the Dremel drill press. To tap put the tap in the chuck you drilled the hole with [without moving anything to avoid any misalignment]. Lower the tap [still in the chuck], to the knife and use the chuck key to turn the chuck/tap [this way everyting stays in alignment]. Do 1/2 turns and go back a 1/4 turn each time. Use tapping fluid. I'm sure it's been done by hand but I doubt it was done as accurately. Even with a straight hole a hand held tap will try very hard to go in at an angle, using the chuck to hold the tap forces it to go straight.
Practice on scrap or very cheap knives a couple times first before doing an expensive knife. [From drilling to tapping do NOT reposition anything. just drill the hole and replace the drill with the tap then lower the tap to the work]. Doing this by hand is a great way to break the tap off in the hole.

[fulloflead]

In my own opinion I would do the job on a milling machine to get the extra ridgedity. A drill press would work but the mill is better. The minimum I'd use would be a Dremel with the Dremel drill press. To tap put the tap in the chuck you drilled the hole with [without moving anything to avoid any misalignment]. Lower the tap [still in the chuck], to the knife and use the chuck key to turn the chuck/tap [this way everyting stays in alignment]. Do 1/2 turns and go back a 1/4 turn each time. Use tapping fluid. I'm sure it's been done by hand but I doubt it was done as accurately. Even with a straight hole a hand held tap will try very hard to go in at an angle, using the chuck to hold the tap forces it to go straight.
Practice on scrap or very cheap knives a couple times first before doing an expensive knife. [From drilling to tapping do NOT reposition anything. just drill the hole and replace the drill with the tap then lower the tap to the work]. Doing this by hand is a great way to break the tap off in the hole.

Sweet. I gotta get a dremil press, but I was going to get around to getting one anyway. Thanks.