This is almost a

script to the question, but if in doubt of what a drill bit will do to a carving, start with a much smaller bit than what I want the final hole to be--then work up to the size I really need. Also, unless it's a carving that the hole goes all the way through and I'm carving it 'in the round', I make sure I go in from the top visible side, and come out on the unseen side to reduce the effect of any breakout.
Guess it's kinda like wearing suspenders and a belt--if I had any confidence in one, I wouldn't be hedging my bets!
Donna T