ega,
I don't think it's off-topic at all, because what is one of the main uses of a centre punch? To create an indentation suitable to start drilling, therefore a discussion of the various types of starting drill seems to me to be a proper follow-up to the original point of "What is a dot-punch?". Delving into the merits of the various types of drill bits which are used after the initial starting drill might well be going too far, but not what you are saying.
I don't know if I've read this somewhere or not, but it does seem to me that the depth of the indentation, and hence the diameter of it, should match the size of drill to follow. I have heard of spotting drills, and I think I've seen somewhere long series of centre drills, but never heard of bullet drills. But given my knowledge level, that's nothing to go by.
As I said, my vertical drill is a cheap and nasty version. I do have a mill/drill but given the quality of the z axis and its ability to drop by itself unless specific precautions are taken, I tend to do all my drilling on the vertical drill. Which is not easy given that centering the work under the drill is almost "poke and hope", ie it involves moving the vice around and attempting to line it up and hope it stays lined up as I tighten the fixing bolts. Plus the amount of sideways movement on the quill etc. Therefore if using the flexibility of a small drill allows me to get a hole started rather more accurately, then that's all to the good. I do have a couple of pieces of steel which have a tapered point on them and which duly allow me to line up the indentation with the drill axis, and I do tend to do this with the drilling machine turning. Ideally, I really ought to replace the drilling machine, but hey-ho, there's a cost involved, and if one day I get the mill/drill sorted then it could be money wasted.
Actually, writing the above and previous messages, has had one big advantage in that it is now making me think of other ways of getting accurate setting up. As usual, there will be nothing new, but adaptations of existing methods.
So a big thankyou to all who have made me think about it.
Peter G. Shaw