Gene,
Even a new-in-box Eraser Blaze would be a medium-light oil ball on today's conditions. From my perpsective you picked up a great piece. The only recent ball that comes close is the Ragin Banshee - but the Blaze should get you through the heads cleaner than a Ragin with a bit less on the backend.
As far as a control drill is concerned you can't go wrong with a 5 X 4 drill with pin over bridge. Even if you have some hand in the ball the Blaze combined with a relatively high pin placement should do the trick.
Let us all know how you make out.