Hi wlain - I can see how I confused you. If the wood is mounted in the expanding mandrel then I'd only go into the wood a small amount.
What I'll ususally do is to drill the hole (one drill size smaller than 5/8") on the lathe holding the wood with a 4 jaw chuck, then the next day (after the wood has re-sized itself) I'll ream it while the wood is still in the 4 jaw chuck.
The "dimple" is already in the reamer. When you get the reamer, the front end is smaller, so it will fit into the hole you drilled. I set the reamer into the hole in the wood, put a 60 degree live center in the tailstock, then bring that up into the dimple hole in the back of the reamer to hold it straight. You can turn your lathe by hand and advance the tailstock, driving the reamer through the wood. Then you'll have a nice clean 5/8" hole.
Happy turning
Tom