Are you using a diamond bit hole saw MrGuy? It does make a lot of difference. I can drill about 75 +/- glasses before I can tell it's time to replace. Could likely get more, but it's easier and faster to buy a new bit.
Completely underwater I don't believe is necessary and don't think it would improve the process. Just a very slow trickle or a second person willing to squirt water every five or so seconds works well, especially when drilling a bunch at a time.
I sure understand the patience part. I'm not very, and find myself sometimes gritting my teeth that the process is taking longer than I thought it should
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