Step 1: Supplies
Book (make sure it is quite thick to handle depth of the socket)
6' extension cord
glue (I actually never used it)
The Forstner bit set was $20 at Lowes. It is very important to use this type of drill bit as traditional bits, paddle bits, and routers will make a very rough edge and will not look good. The two bits I used were the 1 3/8" and 1/2".
I have seen some people use a watered down Elmer's Glue solution on the page edges to keep them in place but I didnt want to take the chance it would ruin the gold look that is on my specific book.
Also, some people have used dry wall screws to hold the pages together. I have personally not tried this but I would consider it as long as you dont place them close to the page edges.