I've got the cheapest = HF Warrior. I've used one to drill 60 1/2" diameter holes in 3/8" thick mild steel and it's still in good shape.
These cheap HF bits lack a split point and absolutely require a pilot hole in anything besides thin sheet metal. The next set I purchase will definitely have split points.
Actually I've got two sets. The first was
this 2 piece set, because they were $14 with a coupon.
A month or so later, a buddy needed 64 1/2" diameter holes. The first couple holes were made with a standard 1/2" drill bit. Then I decided to try my step bits - much easier - but the shallow steps and large diameter meant drilling from each side and finishing with the regular bit. After two holes I stopped mid-project and purchased
this 3 piece set at regular price. (Currently they're
$9 with this coupon.) I used the bit on the left for those holes. I''m thinking that the bit on the right with tall steps would have been the one for smaller diameter through holes in the same 3/8" mild steel.
HF's split point bits (that I don't have) -
like these - are considerably more expensive; no doubt because the flutes must be spiral cut to achieve that split point.
Despite some of the bits being shanked to fit in a 1/4" impact driver, I'd only use them in a drill.