Frank and all:
After looking at your thread on the drunken fish, went out to the shop looking around. Back in the mid 90's my daughter had a bath & kitchen assor. store, and asked me to make up a bunch of wine bottle holders. Got almost done with a few, when she closed store. So set them off to a corner and never finished them. Here is the model and jig I used to make them, the hole is made with a 1 3/8" forestner bit. The bottom and top are cut at 45 degrees, the hole at 49 degrees, the distance from long point of bottom to center of hole is 6 3/4". The top really doesn't matter, just that the bottom is 45.
The jig is made to fit on DP (and cut-outs in side allow it to be aligned to bit and clamped down). After I drilled out a bunch , I unclamped the jig and mounted a 1" drum in DP with 220 grit paper and popped each one on the jig and free handed it to just clean up the fuzz in hole. in the second pic. ( of the jig ) the bottom of the bottle holder is at top. You need to adapt a jig to what ever size blank you're using, however the distance from bottom to center of hole is an important measurement to balance a full bottle of wine, plus the angle of hole and this distance allows bottle to lay level.
HTH
Roger