One trick to using carbide spade bits is to use a backing piece of scrap steel to keep the bit from chipping when it exits the work piece. Just be sure not to drill too deep into the backer, because spade bits are depth sensitive. If you go too deep, it's gonna break on ya. I'm gonna have to try the masonry bit ideal, it's gotta be cheaper than 7 or 8 bucks a pop.
James