I have a couple of things to add. This Pegas blade chart has the suggested drill bit for each blade size. I also have a big drill bit chart on my shop wall that lists all bits number, fraction and metric. To me that is a must have for what I do. The smallest bit I use is a #70 (.028") for when I do beveled inlays. All of the really small bits should be used in a drill press or they will break. I do a lot of stack cutting and have a dedicated Micro Mark drill press. As for the Micro chucks not all are created equal You get what you pay for. Some of these small chucks have a serious runout.
I did go nuts and replace my Delta 16" floor model drill press with the most awesome tool in my basement. It has a chuck that goes from 5/8 to at least a #67 (.032") and the drill is quiet, no vibration as there are no belts and a speed range all the way up to 5500 rpm, great for small bits. I usually run the small bits at 3000.
PegasChart.pdf