If you are drilling the pin use cobalt! If your only drilling the insulator HSS will be fine. I have drilled a few... The center pin on the atomic clone is very hard stainless (read cheap) and has taken quite a few cobalt bits.
So Chowder, are you still going to be here in this thread?
I've been following quietly behind the scenes drilling attys and comparing drill speeds.
I started out with a couple of stainless screws for practice and found as I increased drill speed, the hole accuracy improved. I'm currently running at 2600 RPM.
Then I promptly snapped a bit in my first Cyclone trying to go as fast as I did with my experimental screws. Just like everyone else here I found that going slow, taking small bites, clearing chips and giving time to cool in between produces success.
Also, a friend showed me that if you have plenty of cheap bits, or it's not a concern, you can drill without cutting fluid and the process time of getting good flavor out of your atty is greatly reduced. All you have to do then is pickle it to get rid of the lead that was freed up by resurfacing the metal.
That's built for quad coils. You're just getting into duals aren't you? The mod should be pretty easy but I've never used that atty before so not sure about performance.