On the insid corner geometry, how should it be shaped? I assume rounded, but is it necessarily weak if it just simply the shape of the bit used to bore it out?
There are several issues here--strength, thoroughness of sponging and construction, at least. Sharp corners are bad for the first two and good for the last one. A sharp corner causes stress to increase in the corner which challenges strength and may also contribute to stress corrosion cracking in materials prone to that. A sharp corner is also harder to clean combustion products from, with the potential for unextinguished sparks causing a premature ignition of a subsequent charge (a very undesirable event.) Obviously since ordinary drills have a sharp corner, that is the easiest kind to produce.
If you are making a chambered bore, it is possible to drill the main part with an ordinary drill, followed by the chamber to almost maximum depth, then substitute a ball nose end mill of proper diameter to cut the bottom of the chamber to a hemispherical shape. You will need to make an extension end mill holder for this. If you can find an end mill with rounded corners, that would work also and the chamber would be a little easier to sponge.
If you are making a straight bore, about your only ready option is to drill to near final depth and then regrind the point of the drill with round corners, followed by finish drilling the bore. You probably will want to regrind the point to normal configuration after finishing the bore unless you plan to make more round cornered holes.