.100 deep should do it. ....this leaves .100 wall thickness. I use the lockable depth gage on the drill press to prevent going too deep. After the pointed drill is used, I then use a flat bottom drill to get maximum amount of threads.
The drilling is easy, but the tapping can be more difficult. A slight ctsk helps, but it can't be too deep The tap has to have most of the lead in ground off which makes it hard to start followed w/ a flat bottom tap. A light touch is necessary when bottoming out the tap so the threads aren't stripped.
Also ensure that the screw doesn't bottom out in the hole and strip the threads....some bbl steels are fairly soft.....Fred