I drilled 2 holes in a new 55 gallon earlier tonite. Was wondering the same thing about using a guide, so I scoured around my place, diamond bit in hand, trying to find something of similar diameter. I ended up using a small plastic container that hair "product" comes in, it was the perfect size. I drilled out the bottom using my diamond bit, and had my guide. Then I just superglued it where I wanted the hole, dammed it up with plumbers putty.. masked the backside with putty (to catch the glass and seal the water), and started drilling.
The super glue lost its bond part way through the drilling on its own (otherwise a razor blade would remove it just fine), but not before there was a very nice groove for the drill to rest in, then I just removed it and reputtied up my dam and completed the hole.