Cobalt is not the best you can buy...heck, carbide is a lot tougher than cobalt! Diamond tips are even better, but now your talking serious money. However, carbide requires a steady pressure and even feed. It is very brittle and will chip or crack at the blink of an eye! A slow drill press or a milling machine with the correct feeds and speeds work better with it.
One of the things I tend to shy away from is drilling stainless steel with a hand drill! Even with a drill press it can be a challenge! Work hardens in an instance! If you really want something that is even more fun to drill, grab a piece of titanium and try to drill it without the exact speeds and feeds for it! Work hardens faster than stainless, and becomes a nightmare once you let off the feed or speed!
Good luck, and study up on speeds and feeds for different grades of metals and your drilling will improve faster than you would think!
David from jax