I had a pair of birfields drilled and counter sunk for zerks by a high tech machine shop (lots of CNC machines, lathes, etc), they charged me two hours labor IIRC. They used progressively longer aircraft drill bits to keep the bits from walking off center. Had them also chamfer the hole as it came out the inside of the birf cup/bell.
Here's what I posted after my job was done:
"A 6mm hole was drilled down the shaft exiting into the bottom of the bell using progressive lengths of High Speed (HS) steel drill bits starting with very short bits finishing up with an aircraft drill bit about 10 inches long. The hole as it exited into the bottom of the bell was then slightly chamfered. The hole at the splined end of the shaft had a counterbore drilled into it which was 7.5mm deep by 19mm in diameter. This was tapped so that a 1/8 NPT zerk could be fitted. The sunken counterbore allows the zerk to sit low enough for the stock size grease cap to be used, is large enough for a grease gun nozzle to fit down over the zerk for greasing, and allows a small socket to fit down to install the zerk itself."
I like the way squash did his, with a long zerk poking out through the grease cap, makes it quick and easy to add grease. For the daily driver that doesn't need fresh grease added daily keeping the zerk under the cap is working well. If I mod the mod I may use the longer zerk next time.