Exactly. But if you are only tapping a small number of trees you can certainly get by with a good quality non-brad point 5/16 wood bit.
That said... I agree with others that it is worth the extra cost for tapping trees.
About 750 taps on High Vac.
2.5 x 8 Intens-O-Fire
Airtech 3 hp LR Pump
Springtech Elite 500 RO
14 x 24 Timber Frame SugarHouse
16 x 22 Sap Shed w/ 1500 gal. + 700 gal. tanks www.littlehogbackfarm.com