George,
I can't give you a first hand review of the product but I'll pass this along. I work in a tool and die shop for a living and we sharpen all our own drills. We do this on a choice of three different grinders depending on the size of the drill.
The Drill Doctor is set up much the same way as two of our grinders as far as the actual sharpening process. I make this statement based on my casual in the store observations of the Drill Doctor. The big difference besides cost ( ours run $3500.00 to $5500.00) is the materials the grinder and drill holders are made from. Drill Doctor uses plastic parts and a commercial unit uses metal parts. Plastic parts are not always a bad thing but in this case the plastic will not hold your drill quite as securely or accurately as the commercial one will.
In the thirty years I've been in the business, we have not always had these sharpening machines. Standard twist drills were sharpened freehand using an open bench grinder. A skilled craftsman can sharpen a drill to cut quite well, it just takes more skill and time to do it freehand rather than with a machine. A machine ( Drill Doctor included) can also sharpen to what is called a "split point". This is basically thinning the web to a point, at the cutting edge, to reduce drill pressure (forward thrust) and walking of the drill bit when drilling.
After all this rambling, I'll answer your question by saying; I think the Drill Doctor is worth the price asked. I would buy one if I didn't have the advantage of being able to use the machines at work to sharpen my own personal drills from home. Again I stress that I (obviously) don't own one but they seem to look OK in the store. I would not expect for them to have as much power and speed as the commercial grinders that I'm used to, but should be fine for the home owner looking to touch up his drills at home.
If you do decide to get one there is one thing to keep in mind, sharpen often. It is a lot easier to take just a few thousands off, to renew a cutting edge, as opposed to have to grind back a very dull tool. If you are faced with this, try to hand grind the drill bit on a standard bench grinder first, prior to finish grinding in the machine. This will save your diamond wheel (in the machine) and it will last a lot longer.
Hope this helps some.