There are a number of specialty bits available that enable a power drill to do a lot more than just make holes.
One is a rasp (figure A), which is a rotary bit that's excellent for contouring spaces in wood. It digs in hard and gives a relatively smooth surface.
Another useful attachment is a hardened stone bit that's excellent for shaving metal (figure B). It may spark a bit, so remember to always use proper eye protection when working with power tools.
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