Mark,
Using a bow drill - I don't like to use a bow drill, it seems that I am too clumsy. Using a bow drill is more difficult that juggling three balls! Anyway, here is my bow drill, again it uses a lantern stock an the same replaceable bits as the brace lantern stock, above. The bow drill pivot point is mounted in the dimples normally found only on the left side of 18th c bench or post vices. Here are some photos of the bow drill adapted from the Wyke tool catalog.
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Here is an original bow drill from the 19th c that uses a set screw to secure the replaceable drill bit without the lantern stock.
Here is a scan of the Wyke tool catalog showing a variety of bow drills, do you see the one that I copied?
Looking at some of the Wyke bow drill bits I am sure that you can see that these are capable of drilling even deeper and smaller diameter holes than what is required for a barrel pin.
Keep up your good work. I hope that this helps.
Jim