I'm happy with the following process for all my rivet holes in the thinnest of sheets up to the thick spar caps. I hardly ever use a #30 drill anymore:
1. if pilot hole is not prepunched, pilot with a #40 drill as usual
2. updrill with a 1/8" spiral flute HAND reamer (not a chucking reamer). The taper at the tip of the hand reamer centers nicely in the #40 hole and these reamers leave no break-through burrs. I've built both wings using a single $15 HSS reamer that is sold here:
http://www.msdiscount.com/columnar.aspx ... y_site=WTL3. disassemble parts and lightly break the edge on both the front and back side of each hole in one pass with the Texas 1/8" tool that Spaceman referenced.
This process is fast and gives me very consistent deburred holes without losing strength in those thin .025" sheets from a heavy chamfer.
Paul