Noticed this thread , had an old 6P body which now fits 18650s!
What I found works well:
Tape the sandpaper to the drill bit well , with good quality tape.
Fit too much sandpaper to the drill bit , removing a small amount at at time until you can just fit inside the body.
As the sandpaper wears (and the hole in the tube increases), I cut the worn piece of sandpaper off the end and insert some cardboard under the sandpaper , to increase diameter.
I managed to complete the job with a third of one piece of 80 grit wet and dry. I "bored" until my Sony 18650V cells fit. AW 18650 2200mAh also fit , I did not keep going to allow AW18650-2600mAh to fit though with the aim of leaving a little more metal in the body.
I was really surprised at the quality of finish.