Based on my exp, I'd say a piece of scrap backing the hole and just about any ol' bit will do just fine.
I've used standard bits, forstner, hole saws, speedbore bits, etc, they all seem to cut a clean hole all the way through if you back the hole up with scrap.
Also, you can drill a small pilot all the way through, then drill from the front about halfway, then flip and drill from the back.
That will also produce a clean hole. It might be a tad more work, but if you've got the cp out and bare, not much more than using clamps and scrap.