Homebrew PCBs

Could anyone offer an opinion on this drilling fixture? 

http://www.imajeenyus.com/electronics/20080628_pcb_drilling_viewer/index.shtml

I can see that it shows the pad and hole on the copper side, but I can't understand how you align the drill bit with respect to the fixture because you can't see the dot until the hole is drilled.

He also has a nice surface mount soldering aid under electronics.

Baxter