The Forstner bit came in yesterday and I was a bit surprised. (Sorry, couldn't help myself with that one.) I expected it to have a Freud branding since on Amazon it was listed as "Freud FB-010 1-3/8-Inch by 3/8-Inch Shank Forstner Drill Bit" but it came in under the Diablo brand. I may be wrong but I always thought that Freud's Diablo product line, although I've been happy with them, were of a lower quality than the Freud branded ones. In the end, it all comes down to the performance for the job at hand, but still, I was surprised.
I went to test the bit this morning. Reading the detail on the packaging I was again surprised to see the recommended speed for softwood is 1,600 RPM and for hardwood it's 900 RPM. Filling out a morning of surprised, I went to reset the speed on my drill press, which I haven't done for a quite a while, and realized that the lowest RPM is 620, not 500 as I originally stated. I think I'd have had a real problem if I needed 250 for this bit.
Fit and finish: the cutting edges are very sharp and clean. A couple of the inside edges have a small burr on them but they aren't involved in the cut. I'll remove them anyway before I use the bit on my cutting boards.
Moving right along, I grabbed scrap pieces of Maple and Purpleheart. To test the bit I drilled a hole in each to the depth of the bit, using moderate pressure and withdrawing the bit once during the cut. The bit took smooth shavings, that looked like they came off a plane, and did not accumulate in the bit itself. The holes had very clean edges and the bottom was smooth. I had the end of the hose from my shop vac set about 2" from the bit and it collected most of the shavings. The bit felt only slightly warm after making the cut. For my purposes I won't be cutting deeper than the depth of the bit edge. The shop vac will pull cool air across the bit while I preposition the work piece for the next cut so the bit should remain within a reasonable operating range but I will check it from time to time.
So far, I'm happy with the bit after making all both holes. I would recommend this bit. If I were going to use it in more of a production capacity I might consider the Colt Maxi-cut but at more than twice the price I didn't feel that I could justify it. How well the Diablo bit will stand up over time has yet to be determined.