Position the glass insulator underneath the drill press or within the vice. Set the RPMs for the drill press between 600 and 900. Insert the diamond-tipped 1/4-inch hole saw into the drill press. Don your safety goggles and safety gloves, as drilling into insulators will shoot small pieces of glass into the air, and can shoot much larger pieces of glass as well. Add a small amount of lubricant to the tip of the drill bit.
Slowly lower the hole saw until you make contact with the insulator, then back the drill press off and reposition the insulator if necessary. Re-lower the drill press and begin drilling into the glass. Drill very slowly to let the diamond teeth of the hole saw cut through the glass without forcing the material, which can cause cracking.
Continue pressing down lightly on the drill press until the hole saw breaks all the way through the insulator. Slowly remove the hole saw from the insulator and sand any sharp edges to prevent injury.