Kai, As far as I can tell the hole in the hilt looks to have been burnt in, It was more than likely made by using a small round piece of metal that would be heated red and then forced into the wood as far as it would go then the burnt material would be cleaned out with a small thin blade. This process would then be continued until the hole would be of significant depth for the tang to be inserted its full length. This could explain the irregular shape of the hole, larger at the starting point and smaller at its end but not maintaining a true taper. It would also explain the burnt wood smell that I noticed when cleaning the remaining adhesive from the inside surface of the socket. Of course this is all just speculation on my part and there is no way to prove that this was the way it was originally done, though it does make for a good story.
Cutlers resin is just pine resin mixed with a bit of beeswax and a filler but it looks as though damar resin is easier to find in small amounts and cheaper !!
Thank you for the tip.