This item didn't meet my expectations, as it was not suited for drilling industrial-size holes as advertised. The speedbor tip was dull and caused pieces of wood to splinter.
Image shows a traditional drill bit with a pointed tip on the outside edges to create a clean hole. The bit that is sent does not have sharp ends, but rather beveled edges. I decided to give it a try but found that there are gaps and fuzzy edges. This would be fine for rough invisible holes (like running wires through 2x4s interior walls), but you don't need a good clean hole anywhere.
I ordered an Irwin Speedbor chisel with serrations on the blade edge to reduce pull out when drilling holes. These Chisels (P/N HAN88809) should also drill 4 times faster than the standard Irwin spade bit I was sent an Irwin spade bit #88809 which is a different bit and does not have corner spurs Also the bit I have drills received, pierced at half the rate of what I ordered. I opened the package before realizing the cutting spurs were missing, so I left the bit in. But nobody likes being liedβ¦