I fish for panfish with my rods and set tip-ups for pike. I’ve always used an 8” auger for both. I don’t like holes smaller than 8” for tip-ups. A few seasons ago I caught my first 40” pike and it still had to squeeze through the hole. The hole had a few sharp edges and it scraped against the side of the pike and damaged its side a bit (removed a patch of scales and that area started to bleed a little bit but it was ultimately ok and released healthy). It was a fatty for sure. It never would have fit through a 6” hole especially with the few jagged spots along the edge. As far as panfish go, I just like the larger holes. I’ve never lost a fish because the hole was too big.
Also, if you’re on a small lake, don’t underestimate the size of the fish it can produce. That pike I caught came out of a 27 acre lake with a max depth of 9 feet. It’s full of 14” hammer handles. The day after I caught my 40” my nephew caught a 37” pike. I’ve fished that lake my whole life and actually 95% of my biggest fish have came from it (11” gill, 15” crappie, 40” pike, 22” largemouth, 13” perch). I’ve appreciated an 8” whole every time.
So, I stick with an 8” Lazer especially since I got a Milwaukee M18 Fuel a few months back, hand drilling should no longer be a concern.