Thanks Joe,
Another point worth mentioning is to use a corded drill with plenty of power. A cordless drill battery won't last long because of the load being applied to it to drill holes like this in cold rolled steel. I bought a Porter Cable corded contractor drill because my Dewalt 18v metal gear cordless just didn't have enough power or last long enough on a charge. Cold rolled is fairly tough stuff even when using a harder than average drill bit.
The center of a standard drill bit is "center rubbing" not center cutting. That is the key to reducing the pressure load required to drill the holes. Use cutting oil, not lubricating oil. I normally drill dry though. With practice you will find the drilling rpm and pressure that the metal "likes" and the drill bit will go in a little faster. Start slow and increase rpm to find this preferred speed.
CarveOne
CarveOne
http://www.carveonecncwoodcraft.com