Even good bits won't hold up with poor use. I've drilled more holes than I care to count and yelled at even more guys ruining my bits. Just because a bit is called HSS or high speed steel doesn't meam it'll last long at that speed. BIG TIP ---- Drill SLOWLY! If your drill isn't variable speed then squeeze and release the trigger continuously. Speed creates friction which creates heat which kills the temper which dulls the bit. Use cutting oil liberally. I've made some by cutting regular motor oil with some paint thinner in a pinch. Like any other tool, take care of it and it'll take care of you. Buy good carbide if you can but HSS used correctly will work well for a long time if used right.

Steve