I have used this drill on several projects and made the job very easy. Just start slow and drill slow (it even says no more than 200rpm on the packaging) and get fantastic results. My grooves are still sharp even after many holes in all sorts of things. Highly recommended.
I don't have much tile drilling experience but had to drill 10 large holes in subway tile. This bit made the job pretty easy and still has a lot of life left in it. FWIW, when I started the drill (medium speed) about every 15-20 seconds I would stop and dip the tip in the water (to keep it cool).
Don't worry about this bit, it doesn't start well, it only really chews when it's 1/4 cut. I drilled rocks and only got 5 holes before he stopped cutting. I usually use the Bosch GT700 and will only use it from now on. With only 2 blades they don't hold heat like this one. If you're drilling into tile and need a very clean hole, this may work for you but isn't strong enough for the rocks. Definitely not worth the price to me. :-(