If you're going the drill/auger bit route, I'd get an Eskimo Pistol Bit or a Strikemaster Light Flight for an auger. The K-Drill is slow when it comes to drilling new holes. If you're re-opening old holes, or drill through a lot of wind blown piled up ice, then the K-drill is the one to get.
I run a 6" light flight on a Dewalt DCD996 drill. 35-50 holes in 12-14" of ice depending on which battery I use. The pros of using a drill/auger combo are the weight savings, and if you use a hub style portable, you have the drill along to install the ice anchors for the hub.
Once the ice gets past about 18" or so, I'm generally driving on the lakes and I'm using my 8" eskimo HC40 propane auger. It's fast, reasonably light weight for a "gas" auger, and very very reliable. Always starts on the 1st or 2nd pull, even if it's been sitting outside in -20 temps.
For the guy just out a few times a year, there's no better time to pick up a used gas 2 stroke, 4 stroke, or propane power auger. Everybody is switching over to electric, whether it's the drill/auger combos or the electric augers from ION, Strikemaster (the 24V strikemaster is light, fast, and worth the money), Jiffy, etc.
Any questions, hit me up. I've owned 10 different auger brands or models over the past 20 years and have used pretty much everything on the market.