I got a Drill Doctor for Christmas and I have to admit to being a bit skeptical at first. However, since I punch holes like old people high jump, I drill most rivet holes. I burn up a lot of 1/4" bits. I grabbed a bunch of literally useless bits and got to work with this gadget. I learned how to do it correctly in about 5 minutes and went through that pile of bits in not much more than 5 minutes. Every one of them would quickly drill a smooth hole in 1/8" mild steel in just a few seconds with my crappy little Taiwanese Drill press. Yep, they work pretty good. However, for $70, I could still buy a lot of 1/4" bits.... :D

Hello,
I've had one a long time, but I have mixed feelings about them. One time they work great another time they don't. I've heard that you can mess the hand chucks up, (the things that hold the bit), by tightening them too tight on the bit. After that they won't rotate in the sharpening orfice. The guys that have them and have them figured out, swear by them. There have been many long discussions about them over at the Practical Machinist forum. Just do a search for "Drill Doctor".

http://www.practicalmachinist.com/ubb/ultimatebb.php?ubb=forum;f=1

Drill sharpening is a skill that should be developed. THis said, I do have a drill doctor ( gift from the wife a few years ago). There is a small learning curve in getting the bit indexed in the chuck properly. The investment in the machine can be looked at in different ways. My TIME is worth a lot and store isn't always open when you need a bit anyway. I do fair hand sharpening but the machine is quick and easy. Skills developed is a must if you wish to be proficient. Use of technology ( like this machine we are speaking of and computers) is also a must. I need both skills. My nickels worth.