Some of the Chinese stuff is getting pretty good. Remember when those cheap HF drill bits would bend before breaking? That doesn't seem to happen any more. I recall seeing someone posting XRF results for Harbor Freight HSS in lathe tools. It was not HSS, it was some kind of tungsten hot work steel with lower tungsten content to save money. Performance suffered as expected. If you can spark test, you should be able to figure things out. Get a couple of known tools, even stubs are fine. You will be able to tell the difference between simple high carbon steel, M2 and M42 immediately. These will all work, with appropriate cutting speeds for each. Just about any cheap Home Depot drill bit is at least M2 and will cut fine. A broken piece will fit in a center drilled 3/8" square holder. If you can score a big box of junk tool bits at a garage sale that have some good names for less than $1 per bit, jump on it. They are good for spark testing, placing in some special holder, or examining for grind angles. If they are long enough and ground well, you can just go ahead and use them. I've gotten all kinds. I have two coffee cans full, and three of them were great with just a tiny touch up required.