They have cards w standard size holes at the hardware store next to the bits.Very handy. I keep it w my bits. If I'm putting in a new part, the card tells which bit to use.
I used a proper engineer's one to arrive at the 8mm for Alpha and the 10mm for CTS above.
How you drill depends what you are drilling.
If you are drilling the usual strat pickguard then I would be inclined to go through in one go using a wood bit after carefully measuring and marking the centre with an awl as a starter (think centre-pop). Slow speed for plastic or it melts - use a wheel brace.
Drilling a 6mm hole and then widening it with a larger drill or a tapered reamer tend to run off-centre, but making a 2mm pilot hole in in thicker material is effective.
A wood bit usually has a knife edge and a centre spear to make a clean cut, whereas a straight HSS "jobber" doesn't and can tear the edge (needs sharpening then, do we still sharpen drills?). Both will wander if presented with a large diameter pilot. Slow speed, ideally drill-press but hand held electric drill or better, a manual wheel-brace, are effective on thin material.