Boring a barrel blank.

Hi. This is my first attempt at boring a barrel from the blank steel bar. Steel is 12L14 free machining steel, 31.75mm dia and is 30" (762mm) long. The bit is 1/2" O1 silver steel with a hardened and tempered D bit end. The starting hole was drilled and sized with a boring bar, then the long slow process of drilling the hole began. I could only cut 3mm at a time, before withdrawing the bit, cleaning and lubing it for the next cut. I was very relieved when the bit finally broke through and only 0.009" off centre! This will be the breech ennd if the barrel when it's fitted. Hopefylly it will be reamed to size the cut rifled to .54 cal.