Hary -
Chris Schwarz also likes the
Wood Owl recommendation from Cristobal for general timber construction.
In his "Log Construction Manual", Robert Chambers recommends augers from Northwest Manufacturing. However, the proprietor has passed away, so you would be limited to existing stock from retailers. Chambers also recommends carbide tipped augers from B&A:
https://www.bamanufacturing.com/page_ii.htm
Chambers uses (used? - I guess he's mostly retired, now) all-thread though his walls from top to bottom to anchor the plate to the sill. He also recommended auger flutes 24" long, but seems to have mostly built using large diameter Douglas fir logs. Smaller logs mightn't need such a long auger flute.
I do have a pawn shop Milwaukee 1/2" Hole Hawg (the reversible right angle model with the mechanical two-speed transmission). Plenty beefy
enough to spin the auger - and through you off a swing stage! But, no power auger bits, as yet.
If augering the holes manually, Scotch eye augers seem to be favored. Eric Grankvist used a Scotch eye auger to peg his now-YouTube-famous cabin together. As Josh from the Mr. Chickadee YT channel explained it to me, Scotch eyes come into their own at anything bigger than 1-1/2" diameter, but he typically uses a wimble brace for anything smaller (which would require a separate auger bit, maybe one of the above), at least when "in the field" - though he does use boring machines, too. On Josh's recommendation, I acquired and used a Fray pattern wimble brace to poke a bazillion (OK, maybe 100!) holes in construction lumber this past fall, for screw access. You get the hang of it, after a while.
So, I only have old Irwin bits, and a couple of raggedy Scotch eyes, but have used none of them to make deep holes, such as for pegging cabin logs together.
Either way, an auger file to keep them sharp will be helpful. Or, possibly a diamond file, for a carbide tipped model. Not sure what's available in that regard.
I'll let others chime in on the seal between logs, in a modern context. Historical solutions would have included moss, wool (old socks, etc.) and oakum (tarred hemp).
Probably not much help, but it's what I've got.