Cleveland Twist was bought by Greenfield which was bought by the Top Eastern Company in 2009 and I think the bits are made offshore now. I bought a set a few years ago and they weren't real great. We buy bits from Fastenal and they have a few different grades. We use the ones with the three flats ground into them to hold them in the chuck. If the bits are made of good hard steel, the bit will slip in the chuck, especially on the keyless chucks.
I'm a tight ass, I toss nothing, even broken bits can be reused. Yes, I now use a Drill Doctor, as my eyesight is not as good as it used to be...thing is, any bit I have that is about 1/2 inch and larger, I just grind the top flat, and (depending on which bit and size) I just have to sharpen the cutting part, that is going into a pilot hole....I don't have a milling machine, just a few cheap drill presses, but how often do you need to bang out a 1/2 inch + hole on one fell swoop? So, I keep all bits sharp to a point at 1/2 and below, larger bits I have won't start a hole, but will open up a smaller hole...makes sharpening 3 and 4 flute bits a breeze...I mean how often do us non machinist guys need to to make a 1 inch hole from scratch? The only time I can really tell a good bit from a cheap bit is drilling by hand, once in the drill press they either work, or don't...in my experience.
I want a set of these so bad! But I really don't need them.. A 29 piece set of Cobalt bits for $59 and I have a 20 percent coupon. http://www.harborfreight.com/catalogsearch/result/index/?p=4&q=drill+bits 135° Split Point Cobalt Drill Bit Set, 29 Pc Warrior - item#62295 Drill through steel at home or at the shop with this assortment of drill bits comp at $69.99 Only: $59.99 pdq67
I own a 750x and am very pleased with the extra options it offers. Took me a few to learn its operation but now it's second nature.
I have always used some kind of "cutting oil". a couple years ago I ran out one day while drilling some holes. I keep a squirt can with synthetic motor oil in it ,the last few drops from cans when doing oil changes. I used that oil to finish the drilling . it worked as good if not better .haven't bought any cutting oil since.
I use water soluble 50:1 Hangstefers for general milling & drilling on the Bridgeport. My brother turned me onto drilling & tapping with automatic transmission fluid.