Agreed. A little used motor oil or WD-40 goes a long way. Keep high pressure and medium speed, not full speed.
I'd just go grab a box set of DeWalt bits at Lowe's, Home Depot, etc. Those are all I use. I've used a whole lot of different drill bits and the Dewalts are good for the money, and fairly often on sale.
I also just resharpen mine when it gets time instead of buying new. I haven't bought drill bits in - man, probably 2 years. Easiest way is on a bench grinder but you can do it with an angle grinder in a pinch.