Before I built a CNC PCB Mill I used to drill boards by hand. At first I used a Dremel, then I found a cheap small $29 Chinese drill press. But I still broke bits all the time and my holes were far from perfect.
With the CNC Mill I simply position the board and hit Cycle Start. Whenever the routine needs a different size drill it shuts down, parks and tell me what drill to install. It is a dream.
See video below
I buy my PCB drill bits on EBay for very low cost. I just keep an eye out for an auction closing with a low bid, or a good set with a wide variety. Over a year I built up a nice collection.
Picture of drills
I keep one of each in a drill rack for easy access, then the remainder I keep an inventory of. In the rare case that a break a drill I can quickly locate a replacement for the drill rack.
In my drill inventory spreadsheet I calculated the fields needed for the pcb-gcode drill rack file. So it is easy to cut and paste the list into a text file for use with pcb-gcode.
pcb-gcode file (Default.drl)
Here is a picture of the cheap Chinese drill I used to use for drilling. I still keep it around for circuit board repairs and other manual tasks.