I use to know an old machinist, he is dead now and I have always regretted not picking his brain a little more. I had a project going that I had used old bed rails to weld up and the heating of the welding had tempered the angle iron or something. I had to drill over a hundred 1/4" holes and I was burning up bits about every third of fourth hole. I asked him if he had a bit that would cut this steel as I had over a hundred holes still to drill.
He asked me how I had been running the bit and I told him trying to run at a moderate speed without too much pressure, you know let the bit cut and try not to overheat it!
He walked over to a box of bits he had sleceted a bit the right size and by eye throws it on the grinder and touches up the edge. I think what he did was he change the angle of the bit. I would have to look it up again buth angle of the point is different for steel that say for concrete. He also told me to run this bit as fast as I could with as much pressure as I could.
I cut those 100+ holes I had to cut without failure. Oh I forgot to mention this was nothing but a regular concrete bit with a carbide tip, and I am pretty sure all the ole man done was changed the angle on the carbide point and the bit never failed.
When I was done I took it back to him and he said , "Oh you could have kept that, it wasn't nothing special"! It was too me I have never seen a bit cut like that one before or since and especially given the fact it was just old masonary bit!