Probably every person I have ever worked with uses your first technique. And most newbies will avoid drilling through a wall like the plague. The remaining "not scared to drill through this brand new million dollar building" installers are usually the ones fired the next day for hitting water line, electrical line or some other infinite amount of possibilities for disaster and lawsuit.
That being said, it doesn't bother me anymore. I don't do installations much anymore, but have probably averaged 1 a day over a 20 year span of doing that type of work. But even if someone did 10 a day over their entire life, I guarantee you there will always be a new scenario where something doesn't go as planned and you will be standing there looking at that wall telling yourself "How did I f^ck that up that bad"?
I've never heard the term "blind holes" and if that was a standalone question I would say I never have drilled a blind hole. If you don't know where your bit will end up on the other side of a wall, then you shouldn't be drilling at all.
Best advise I can give is measure twice and drill once. Measure from the inside and outside and then measure again. You may have to drill from the inside out or outside in or both. Stud finders can come in handy. And those little mini snake cameras can really come in handy. I've had probably every tool available to man over the years but always come back to just a tape measure. Take your time, and drill slow.
Have quality bits and 2 of each size, and have every length they offer. Have every model too. Regular bits, pilot point bits, masonry, step bits, spade bits, wood bits.......... If you see them for sale in the hardware store and think you don't need a bit like that then you haven't been doing it long enough and probably been doing it wrong half the time. Buy every model that you can afford. Stick with the name brands too. Trust me when I say it's not worth saving 75% off the price going with cheap ones.
If you are required to drill through a customer's wall, then those few minutes usually become the most important minutes of the physical installation.