Don't you hate it when you've finished drilling and there's all that super-fine, super-hard-to-get-rid-of dust everywhere? Well let me tell you how to avoid the nuisance altogether.
You could use special dust extraction devices, which collect the dust during drilling, for example the Cardi T1800 162-MS-EL comes with one (Another free ad right there damn it).
These are available as accessories at some hardware stores.
Alternatively, if you can't afford one or like me couldn't be bothered to go buy one, you can also stick an envelope or small bag directly underneath the hole you are drilling, in order to collect the drilling dust.
Covering the floor underneath the hole with cardboard, plastic or foil also helps.
The other more community friendly and more sociable way is to get someone else to hold a vacuum under the hole so that it sucks up most of the dust.
Please don't be stupid and drill a hole in the person whilst doing this...
it really strains relationships and will reflect badly on me.
So, use your common sense, it's not that hard I assure you, and viola you have a dust-free post drilling environment and you can do the Armageddon (the movie) walk afterwards as your spouse/girlfriend/roommate/mom praises your neat and efficient Handy-person-work.
Oh and wear goggles.
Stupid safety tip but there's nothing worse than a piece of wood/metal/assorted minerals hitting you in the eye while you're concentrating...
It could make you mess up the job and then you've got two holes you didn't want to worry about.