From someone who spent 10 years behind a big drill press in a commercial producion facility:
400 1/2" holes through 1/8" in iron would have been turned out before coffee break.
It is a 1/2" hole. That is high speed drill time and cutting fluid is highly recommended. Constant flow while drilling. If you don't want the expense of a coolant pump, just hang a gallon jug up above with a tube and some method of controlling the flow down to the work piece.
Clamp scrap to the press table so the tubes just fit with a stop at the end. Place tube in jig, pull handle, remove, place tube, pull handle, repeat until your right arm wants to fall off

. My press had an automatic feed but I may not have used it on that job. It takes longer to say than it does to do.
One sharp 1/2" drill bit will probably see the whole job. I would use one of those "For hard metal" bits. Usually found with a 'gold' color.
Be sure the rods will _fit_ a 1/2" hole. You might need to go to a 33/64" bit.
OOOPS. I was picturing one hole per tube but I bet you are talking a _series_ of holes down the length. Gets a bit more complicated but will still call for jigging up. My method would be to get the first hole and then slide forward until that hole lines up with a round that drops into the hole to space each subsequent hole. Probably would have taken me about an hour to design/build/get welded the jig so figure I would turn it out by noon

. The jig would also include a toggle clamp to hold the tube while drilling. You don't want the tube 'climbing' the bit as it breaks through

.
The suggestion to 'farm it out' is good if the checkbook will stand it.
Harry K
Harry K