I am looking to buy a set of high quality metal drill bits. Usually, drill bits out there on the market are not classified for metal vs. wood and other softer materials. Are some drill bits better for automotive work and metal applications than others?
Look at the below image of three drill bits. The one on the left is a masonry/concrete bit. The one in the middle is a steel bit. The one on the right is a wood/plastic bit.
The masonry bit is used along with a hammer action to chip a hole, rather than cutting. The steel bit was designed to shave away layers of metal. The wood bit does much the same as the steel bit, but the sharp tip first anchors the bit, followed by the forward-swept ears cutting a circle around the edge before shaving away the wood/plastic.
There are various fancy-looking bits out there, but the trick is still to look at the very tip to discern what it's meant to accomplish. Concrete will always need to be chipped away, steel and wood will need to be shaved. Wood needs a pilot tip to prevent following the grain.