Rich, put some blue layout fluid on the tip of the bit, you can then see where it is touching/cutting the wood.
Only bit I've drilled with (and have to do another that is patiently waiting in line} is a 3/8" Forstner bit - I do hone it regularly when it's in use.
What are the cuttings like? curls or chips? You know it is sharp when you get clean curls.
Was drilling an Exacto knife last night to make a handle for the graver you sent me, and drilling into the handle, I was getting 6 to 8" long curls, telling me I had a sharp blade, the right speed, and the right pressure. Always a thrill when you do something really well.
Let us know how the drilling goes.