The carbide attached to the cutting edge of a concrete drill is the same material machinists use to cut metal on a lathe. I've resharpened them for metal drilling. The tip of the bit needs to be sharpened to look like a regular high speed bit.
Just to be clear, my original thought regarding the hammer drill and 1/2" carbide bit approach was to
rent, not buy. I don't think the rental guy would have been very happy if I had turned their expensive carbide bit from a masonry bit into a metal-cutting bit. But that said, I would like to hear more about what it takes to do this conversion at home.
Also to be clear, my largest and most powerful drill here at the house still only has a 3/8" chuck. I'm sure they are available somewhere, but around here there were no 1/2" carbide-tipped masonry drill bits available with 3/8" (or less) plain shanks... hence the need to rent (or borrow or buy) an SDS hammer drill and SDS carbide bit. The rental hammer drill in question
does have a non-hammer (regular) drilling setting too... which, obviously, I would have tried first. I have no desire to crack or shatter the deck's pressure treated wood (at least not any more than I already have).
Use a slow speed if you can and use lots of pressure. The most likely problem will be breaking the carbide tip off, but considering that you're drilling wood and nails are really soft, it's not likely.
Been a lot of posts about how these nails are so soft and mushy as butter, etc., and how this task should be so easy and all that. Sure wish that were the case. I should have taken some pictures of the destroyed $25 nail eater bit after going through just one of those nasty nails. Soft and mushy? I don't think so.
PS Don't forget to tell us how this ends.
I will. I had to work yesterday, so I won't be able to try the 3/4" drill bit/extension rod/hole saw approach until later today. I fully expect it to work as long as the extension rod doesn't break. After all, these are just soft and mushy old nails, right?
Rusty