I'm not normally a fan of spade bits. But I needed just one bit that would allow me to drill the holes for the pipe clamps in my new bench project.
I stopped at my local hardware/lumber shop and found they had sets similar to these:
for a bunch more than what I wanted to pay. They also had a single bit which was just the right size. I have to say I was impressed with the bit's peformance, and i'll likely save up for a set of these at a future date.
They've got a groove which greatly aids chip clearing from the hole, and man does it do a super job. it looked like a hurricane was in place at my drill press!
the hole itself was superb, I'd got a cheapo set of forstner bits, but this spade bit did a better job than they do at clean cutting. Even when I punched through the boards it cleanly cut the plug out, leaving little or no trace. I flipped the first of 4 through cuts, but forgot on the second... and was amazed that I couldn't tell the difference between the two. Actually I could... the one I didn't flilp came out cleaner than the one I did!
in that shot the hole on the left was done with the forstner bit, the one on the right with the Irwin.