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Not sure on grinding discs but for drill bits Ive recently added a couple to my collection from Homebase. Theyre CNC-HSS drill bits, and appear to be much more durable than conventional HSS drill bits. Im not sure what theyre like in comparison to cobalt drill bits as Ive never used cobalt bits myself, but I know cobalt drill bits cope with most materials, and these CNC bits seem to cope with most stuff too so theres not likely to be much difference between the two. The CNC-HSS bits are priced at about £6-£7 per bit around the 6mm-10mm size. Ive not got a whole collection of them (as itd cost quite a bit to buy one of each size) so Ive just been using them to replace my titanium bits when they break. They allow my crappy cordless drill to happily drill through 3mm stainless steel quite easily
We use them to drill holes in the circular saw blades we use for the wheels for our power tool drag racers. Circular saw blades are hardened steel and blunt normal centre punches. They ruin standard HSS bits. One 4mm cobalt bit drilled 8 holes no problem.
You should only need cobalt bits if youre regularly drilling Hardox, Ti or Stainless.
Always use lube if youre drilling anthing more than thin stuff - one of the main thing that damages drill bits is heat.
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