One of the best things I've bought is a Drill Doctor bit sharpener. I can't tell you how happy that thing has made me. Always having a sharp bit and the ability to accurately sharpen your bits is great.
+1!!
If you don't know or want to learn how to shgarpen drill bits, this is probably the best $$ investment for a home drill press, besides a good set of drill bits.
If you pretty much never plan on drilling unusual or really hard metals most sets are ok.
If you want to do a lot of rotor hole patterns, I would choose cobalt drill bits.
Don't forget that coated drill bits are great.
But once you sharpen them you loose some of the coating on your cutting edge.
Some coatings are great for aluminum though, helps keep it from sticking to the flutes of the drill.
And yes i am a tappin' fool, but having a $3000 tapping head and a 250,000$ cnc to use it on helps to.
Too bad i can't park that baby in my garage though.
Work might think somethings up if it were missing anyways.
l8r