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Good luck finding the larger braces. I haven’t seen a 14” one in years, and the 12” ones are a bit of a premium item. It will drill the 2”+ hole, but with a little effort.
My 14” one is on semi-permanent loan to a fellow who still uses it. They are great if you are working in an office or someplace. No noise.
That little Miller Falls quick brace is also snapped up by collectors. I got mine for free from the fellow I bought the 12” one from when he retired in 1970. When he saw how I cleaned up the bigger one, he figured the little one was going to a good home. It is already deeded to the next lifetime use, who will be the fourth owner.
Look for bits in antique mall or car boot sales. They often sell for under a dollar. Just make sure the nickers are still good. 90% of the bits are worn out. But I always go through the bins and usually find one.
With a hardwood bit, an 1 1/2” hole shouldn’t be too hard.