LENOX 25456-56HC 3-5/8" One Tooth Wood Hole Cutter
The Lenox 25456-56HC 3-5/8" One Tooth Wood Hole Cutter can cut wet, frozen, pressure treated, and hard wood without binding and can cut more than 300 holes before resharpening is ever needed.  They're deep enough to go through 2X4 and 3/4" plywood combinded.  Plug ejection is easy and the one tooth is safer with less torque than self-feed bits.