I bought some cheap chinese step bits from ebay last year. They look like they would be about the same quality as the ones from HF, and they have held up fine so far just drilling through aluminum. The beauty is if they break you can get new ones for ten bucks.
If you're constantly making pedals every day I could maybe see spending the extra dough on Irwins, but otherwise I say grab the cheap Chinese ones and start making holes in stuff.
Another thing, I got my drill press from HF on sale and they still let me use the 20% off coupon I got when I signed up to receive their endless emails. All said, I think I ended up paying around 45 bucks for it. Not too bad at all.