For those of you who are considering purchasing Forstner bits: Do yourself a favor and look at the high speed steel bits sold by Lee Valley. They should hold their keen edges for a very long time.
Also, a note to Rob: As I recall, you are a turner. You could turn tapered blocks, similar to replacement socket chisel handles, to mate with the inner taper of your Forstner bits. Use diamond paste. That should restore your Forstner bits to their former glory. (Keep the blocks for future touchups. Store them in a sealer plastic bag to help preserve the diamond paste.)
Ken
Also, a note to Rob: As I recall, you are a turner. You could turn tapered blocks, similar to replacement socket chisel handles, to mate with the inner taper of your Forstner bits. Use diamond paste. That should restore your Forstner bits to their former glory. (Keep the blocks for future touchups. Store them in a sealer plastic bag to help preserve the diamond paste.)
Ken