I have been using the APT multi tool spade drills for many years in the shop.
Pluses are; low investment for a large variaty of diameters, Very low torque to turn them, low force to feed them. Dont take much space in the tool box, Cheap to replace the spade if you crash it. Spades are available in differant materials to suit your needs.
The down side; I dont consider them any good at all for a hand held drill, excellent in the lathe, decent in the mill. Limited depth. Blind holes have to be drilled a long ways past the finish diameter for the pilot. Depending on finnish diameter the operation is 2-4 steps form pilot to finish diameter. Accuracy of diameter is very dependent on machine rigidity.
I do like them and they see a lot of use but as you cab see they do have operational limitations as compared to a twist drill. You will like them for what they are good at but not as the only large drills in the shop