Harbor Freight has the Chicago Electric Power Tools 90287 Electric Drill Bit Sharpener for $25 - 20% off with coupon code DISC20 + $6 shipping = $26 shipped. Features 120 grit sharpening wheel, 1600 RPM, and sharpens sizes from 9/64" to 25/64" on both carbon steel and high speed steel drill bits.
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I think there is a typo there. Chongqing is misspelled as "Chicago."
Works on real hardened carbon steel bits or only chinese buttermetalâ„¢ ?