I have always cut with a standard hinge cutter in a cordless drill, never had a problem.
I generally use a 35mm router cutter (made specifically for
hinge boring) in a plunge router with the speed turned down to 8000 to 10000rpm. The side fence and its' fine adjuster allow me to align and drill consistently whlst the fine adjustment on the plunge depth allows me to control the depth of cut precisely. There is a slight tendency to twist as the cutter enters the workpiece which is maybe best controlled by clamping the router to door. No need for templates, just a combi square and a tape to mark the hole drilling positions.
I have to agree with Dave, though. A cheap pillar drill with a TCT hinge drill and a simple baseplate and fence (piece of MDF with some 2 x 1 PAR softwood screwed on) is the easiset way to go if you don't need to be mobile.