Hoezap,

welcome to the world of geometrical tolerancing and true position.

You are right to say that since the drawing does not call for a positional tolerance and if the holes are positioned off of an edge or face datum, they should be independent of each other. Ultimately your contract is the clients drawing.

If the drawing box say +/-0.1 then your hole centre will need to be within a rectangular tolerance band equal to that. Unless there is a note specifically asking for the two holes to be positioned relative to each other or you have dimensions to that effect, they can be independent.

Now here is why you use interpolation for holes on machines that are good:

Traditionally toolmakers on manual machines would clock up a workpiece then spot drill, drill a hole something like 0.5-1mm undersize, run an undersized endmill into the hole to get accurate position and finally follow up with an accurate reamer. Reamers are very flexible and very prone to breaking if you get the feeds wrong and they do not dictate the position of a hole. That is why there is a thing called a floating reamer chuck.

With CNC machines now, you do not need to do all the steps above, a single endmill can do all those. This also allows you to use any endmill you want for a hole by using cutter compensation. With CNC machines now being able to get H7 accuracies without issue, it makes no sense to drill and ream. There is however the issue of cylindricity when interpolating. Any backlash will cause your hole to not be perfectly round. If the drawing has an (E) denoting envelope in the dimension, you may be stuffed, if not then fair game.

On my home machine I will still do the old fashioned way to be honest but when I go to suppliers, I demand the new way to minimise my costs.

If you want low runout tool holding then you should consider collets. I personally have shifted to ER collets for everything as I could not find cheap keyless chucks that would give me the same confidence. If you want even better runnout, then you go for shrink fit holder. The collets I stock and use are all to DIN 6499 / ISO 15488 Form B that calls for a runout of 0.01 or better if I remember correctly. Your spindle should be better than that though since you are running 2.5mm endmills which will require high rpm.