Diamond is not a material that I'd choose for something which might experience high temperatures as when all's done it's just carbon, and it will burn just like coal will burn. The description on the page linked is completely unconvincing anyway.
Generally I'd avoid diamond tipped tools except for special applications. When I was doing a lot (miles) of scribing steel plate prior to gas cutting I tried diamond tipped scribes. The tips kept falling off and getting lost and I went back to the old faithful tungsten carbide. They just break.
Some of the cheap drills out there are real rubbish, especially those made in China. Don't get me wrong, China knows how to make good stuff, but it will also sell you complete tat if you let it and in my experience more tat than good stuff leaves China.
On the other hand I bought a set of cheap drills (not diamond) from Aldi a couple of years ago (nothing like those linked in the OP) and I was so impressed I bought another two sets the next time they did the offer. The package claims they're made in Germany, which given the performance of the drill I can well believe.
I've never seen them anywhere else, here are photos of the pack:
http://www.jubileegroup.co.uk/JOS/misc/dscf4032a.jpg
http://www.jubileegroup.co.uk/JOS/misc/dscf4034a.jpg