I'm no longer sure that the conventional wisdom expressed by jscpm is still correct in these days of low cost USB microscopes.
Simple flat single facet honing jigs for baby drills have been described by many reliable sources and are reported to give adequately acceptable results if the drill is correctly aligned. OK maybe not to quality brand factory fresh standards but certainly back to somewhere in the first quartile of the drill life. Which is a lot better than blunt as more than acceptable for most work.
The devil in the detail is of course "correctly aligned" closely followed by inspection of the results to verify that the drill really is sharp with an accurately centred point after the specified "few strokes on the stone", in need of an unspecified "few more" or, worse, slight modification of the alignment to get a centred point. I tried it just enough to know it can be got to work and to confirm that it was all far too much trouble and faffing about for Mrs Fosters little boy in the 1980's!
Seems to me that exploiting the visibility and working area convenience of a USB microscope makes it practical to rethink things by mounting the drill in an accurate carrier and using two honing guides to give a four facet tip. By its very nature a four facet tip is far easier to inspect for accurate centre than the conventional variety. Given enough magnification that is. Although it is in principle possible to mount up a drill in a carrier viewing through a conventional microscope its a right PIA and not really practical. A simple bore should do to hold the carrier in the honing jig with a wing and pin to get the alignments mutually correct with a few thou twixt wing and body so the drill can drop down as you sharpen. Were I to make one I'd arrange things so as to take a fixed amount off at each sharpening session by, for example, honing until the wing drops onto the main jig body. A couple or three thou should be enough.
The devil now is in making it very fast and very easy to mount up the drill in the carrier. Realistically anything more than "a couple of minutes" to sharpen the drill is too long. Far as I can see there is nothing in the device itself requiring more than careful workmanship. A Vee groove and nearly pointed push bar will retain the drills just fine.
Clive