Tried a cheap drill bit sharpener from Harbor Freight in Phoenix
Picked up that $10 Drill Doctor clone just to see if it worked. First try on a dull 1/4 inch bit for steel studs actually gave me a clean cut again. Lasted through about 20 holes before I had to touch it up again. Anyone else had luck with those budget sharpeners or am I risking bits cracking?
Oh man, just a heads up those cheap sharpeners can sometimes mess with the temper if you let the bit get too hot. Take it slow and dip in water every couple passes and you'll be fine!