While I prefer Jennings pattern augers, the largest I have is 1 1/2". While Jennings probably made larger augers, I've not witnessed one larger than 1 1/2", other than ships augers. So, a Forstner is probably the bit of choice, and the reason I say that is that it offers a 'stable' clean cut.
Grits asks a super question regarding the wood used. The oak families, work Forstners hard---feed slowly. If you are using standard cabinet grade plywood, Forstners dull pretty quickly, too--but if only a few holes, the Forstner should be OK, I'd think.
Now if you are using cocobolo or rosewood, you'll notice the Forstner getting harder to cut after three complete holes. Go 'real' slow...
You also have options to complete each hole: 1) have a backer piece of wood so you won't get tearout at the bottom of the Forstner cut; or 2) you can cut the hole nearly to depth, allowing the bit point to break through, but not the entire bit--then finish the hole from the opposite side allowing for a clean hole.
Joe