I am sure there are much better quality and professional bits out there. But for the price, this one can't be beat. How often do you have to drill a 55/64" hole? If the answer is more than 12, maybe you should find a better option. For me, the three holes I needed this bit for came out nice and crisp. A little wobble from the extra large bit, but if you make sure your work is clamped down on the drill press firmly that can be eliminated. The bit itself, is made of quality steel and the flutes are sharp. I especially like how the edges are milled with a different type of metal, it made the three holes I had to drill come out nice. I cannot speak for the longevity of the product past that but, after three holes it was still sharp.
Rating: [4 of 5 Stars!]