Yeah you don't even have to use any power tools, It could even be done with a hammer & chissel if you have enough patience. A lot of my early stuff was done without using a pillar drill simply because the pillar drill I had was such a pain to use.
kio_liex looks very nice and similar to a GPU block I made for a GF4,
At that time I had no mill and just the channeling was done with the pillar drill.
The point is you will soon get tired of doing it without a pillar drill and then a mill, and it will prevent you from doing more complex thin walled blocks. If you plan to get stuck in & make more than just a few basic blocks then a mill is the only way to go as I see it.