I ground bits on a bench grinder for years, and did pretty good, but finally decided to try the Drill Doctor I got for Xmas one year. Works Great! Very surprising how easy it is once you set it up, and makes a NICE point. Only drawback is the setup, but if you are doing a few at a time it makes it worthwhile.
I use a Drill Doctor. I also buy cheap sets of bits. They will only be as sharp as I make them. I know this is bad advice but it works for me. Rick
Me too: time served machine shop apprentice. I drilled my own springs for my quarter elliptic front end, never had a problem, low speed, apply some engine oil, drilled 'em all without a resharpen. Youl need a bench drill though, very little chance of doing it with a basic hand held electric drill.
I have one of the Drill Doctor gizmos as well as a couple of fixtures that mount to the bench grinder...I always end up doing it free hand probably because that is how I learned to do it back in the 60's. Pictures and books are fine but you really need to have someone show you how to do it. Ask anyone and everyone you can find. Maybe the old guy at the (non-chain) hardware store, maybe the retired millwright down the street (or sitting at the bar). This is a valuable skill if you plan to keep playing with cars.