Bits for Mortise Drill

I have been fortunate to find an old mortise drill press that works like a charm. Unfortunately, the drill bits (1 inch, 1 1/2 inch, 2 inches) are badly worn and rusted. The pilot screws are in especially bad shape. Any suggestions on where to get new bits, or on how to sharpen what I have?

I have had good luck frequenting flea markets and junk shops. Look for old "T" augers with the bits in good shape. The handle can be cut off and the shank turned by a machinist to fit your chuck. I seldom pay more than $10 for a bit if I'm patient. The machining may cost an additional $10-$15.

One inch and 1 1/2 inch bits are also available from Irwin. Costs are not too bad. It's the 2" bits that cost something like $140 new.