Best cheap tool you ever bought.
I got an old drill grinder from work, for free when they shut down the machine shop
like this a darex (just looked it up, wow...$$$)

so I buy all the drill bits at yard sales
you can tell the good old steel bits right away, and I toss the junk
it will do up to a 1 - 1/2" bit and down to 1/8 (with a magnifier...lol)