It's pretty easy to do IMO. Just do a couple of tests to find the fit you like. Personally, I drill, ream, then follow up with a tiny boring bar to get My final diameter, of which size depends on the pin. I bought a batch of 3/8 pins, and found out that they all weren't to the same specs, this discovery came after I had used some of them in cues, so I had to learn to compensate for that to match the shafts snug. I don't have any problems with tearing the threads, and can still get a snug fit from the taps I use, but I'm certainly aware of that issue, and It is easier to tap with a larger Inside bore.
I just recently cored a purpleheart break shaft for 3/8-10 with a canvas phenolic insert a few weeks back. A good glue seems to be enough. That stuff really takes glue well, especially if You leave the OD of the insert kind of raw, with the pores open, as to soak the glue up.
As far as tapping, It's not bad, but not as easy as maple, and even with lubrication, in order to get the fit snug, You'll probably have to work the tap back and forth, cleaning and blowing chips out in between, otherwise You'll probably jam It up, and get It stuck. A bigger diameter ID, and something to lubricate the tap, may make It easier to tap in one or 2 shots though.
Greg