SDS drill is the way to go. They turn slowly, but hit much harder than an a conventional old-style hammer drill. The difference is almost unbelievable the first time you use one.
For 5/16 holes, any SDS drill will be fine. If you drill bricks, going for an overpowered SDS drill will tend to cause problems with knocking the back out of the brick when part-way through: a problem with brick-built houses here in the UK, but maybe less of a problem if that's not a construction method you encounter. I find anything over about 2J of impact energy is too much for brick, but for drilling bigger holes in concrete, more impact energy is good.
The cheapest import SDS will drill stone/brick/concrete much better than even the most expensive combi drill, so if you are not going to use it much, buy a cheap corded one under 2J.