Homebrew PCBs

I etch then drill but then I'm not doing plated through holes.  

To do a good drilling job you really need a drill press and carbide 
bits.  the HS steel ones just wear out too quickly though the aren't 
as brittle as carbide.  You can get a small drill press for well 
under $100 and the dremel kits are reasonably priced, too.  Because a 
drill press has a lot of other uses, I see it as a no-brainer 
acquisition.

I use a cross sliding vise with my drill press.  once I have the vise 
lined up and the board aligned to the vise it becomes very easy to 
drill holes with in a few mils of the target.  

Still, I hate drilling.  Its the worst part of the process for me so 
I bias towards surface mount components.  Mixed through-hole and smt 
works pretty well though you will have to do more vias.