I use a laser pointer device that also gives distance up to 100 feet. Picked it up at a building supply store for like 80 bucks and use the snot out of it. Especially great for measuring long cables like anything over 15 feet, very accurate. Also handy to use as pointer and checking heights when bidding bucket work, side reach of bucket etc.
With 2' of drill bit and another foot and half of drill, I can eyeball the opposing limb (target) and 9 out of 10 times after 1st hole is bored, I put eye right up to tree and look through hole and see the entire limb. That 1 in 10 I can at least see part of the limb. Everyone is looking for this laser accuracy but lets face it, when the wind starts to blow, those laser sights will be scanning all around like some laser light show anyway right?