Drilling
Drill speeds are a factor in drilling, as well as tool sharpness. The steels we drill are usually 4130 normallized, but apply enough heat, such as a dull bit turning too fast will "work" harden the steel you are cutting. Coolants, as well as proper speed, plus a sharp bit work well.. High speed drill bit work well and are less like ly to break. Cobalts are better suited, but are also brittle and can break. The brittleness may also break tiny pieces of the cutting surface rendering it dull, and begin to work harden the steel one is cutting. Most cobalt bits are difficult to sharpen. Cobalts are more critical as to speed. A word of caution about coolants. With 4130, should a dull bit raise enough temperature, and cooled suddely, it may harden it making it almost impossible to drill with common bits. The next step would be a crabide bit, and they ain't cheap.
Rule of thumb, drill speeds are generally slower as the steel is tougher. Cutting pressure should be enough as to see a curly shaped shavings. If the shavings are consistant, and not blued, speed, cutting pressure, and drill bit are in balance.