I needed a long 5/16" drill bit to drill the holes in the axle flange for mounting the brakes. And also a bit slightly larger than 7/32" for installing 8-32 rivnuts, which are exactly 7/32" diameter.
I stopped by my local Ace Hardware - and look what I found - "Aircraft" Tools! See - it says "aircraft" right on the label of the long bit!
Ace has a complete (#1 - #60) selection of numbered drill bits, as well as the fractional long aircraft bits. I think they really do have an amazing selection for such a small store - especially compared to the big box home improvement store.