At least Forstner bits provide a means to extract the chips from the hole. Hole saws are generally terrible at that. The older "Professional" line of Craftsman hole saws has 2 very large gaps in the teeth, which help some, but not nearly as good as Forstner bits. I think those openings were really there to help with plug removal, but accidental benefits are still nice.
Most everyone I see runs them both way too fast, which overheats them.
[member=44099]Cheese[/member] I'm certainly not going to pick at you over it, if it works for you, so be it. The job looks great.