Cross drilling a round bar

Hi all, Had an inspiration while stuck in traffic the other day, I wanted to make some boat parts requiring accurate cross drilling through a turned part, I only have a lathe(s) and pillar drill to go at. Normally I would either muck about with vertical slide or more often than not use the "rack of eye" method in the drill.( or lean on my mate with a mill, but he's on holiday) My very succseful solution is this: Put a piece of flat bar in the lathe toolpost, fit drill bit in lathe chuck and drill through it, remove bar and re-position in toolpost square to chuck, mount component in chuck and then use pistol drill to pilot drill through component, spot on (near enough !) drilling thro centre of part. If you have a four position square toolpost you only have to put the bar in the next step round and it will be bang on square ( assuming squareness of toolpost) I have never seen this tip before and thought it worth posting ? Mark G.