A few more metal working thoughts that might help you out.
* When drilling, the key is pressure not bit speed. I must have wasted $50 in bits before I learned to slow the drill down, keep it lubricated, and press harder. I use WD40 as the lube but if somebody has something better I'd listen. It's too bad that bit speed isn't good it's easy, just pull the trigger. Pressure is just hard work, especially if you're on your back under the truck. I find a cordless drill set to slow speed to be pretty good. Maybe even better than a corded drill.
* If you use a stick welder you'll be tempted to knock a little slag off without eye protection. Don't do it. We're talking about something like molten rock flying in unpredictable directions. (I know, this is sort of a duplicate but I'm hoping that you'll think of this when the urge hits you.
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* I find that a separate wire brush and hammer is much better than the wire brush/hammer combo tool.
* My favorite stick is the 7018. It splatters less and leaves a nicer looking weld. If the material I'm welding is especially yucky or even painted I use a 6018.
* Somewhere around 100 amps is good for general welding on bumpers/sliders with a 1/8" stick.
* (This is a good one.) If you have a hard time getting the arc to start, rub the stick on the concrete until more metal shows. If it still won't start turn up the amps.
* Too many amps will burn through the metal (which is tricky to fix). Not enough amps will give poor penetration and it will be hard to start the arc.
* If you have the budget, buying two 4 1/2" grinders is a great idea. One for grinding and one for cutting. The $40 dewalt grinder is a good choice. I must have 200 hours on mine and I love it. (I use it for woodworking too.)
* When you weld, the metal want to bend toward the weld. So if you weld a square tube to a plate it will bend over so that there is a gap on the side opposite the weld. For that reason, you should tack down opposite sides until all 4 are tacked. After that you can weld it fully. You might want to do a light weld, clean it up, then weld again to prevent the plate from warping.
* Know your welder's duty cycle. If you're like me you spend a lot more time setting things up than welding but sometimes I'll get all my tacks in place then really go at it for a while. When that happens I could exceed my welder's 2 out of 10 minute duty cycle if I wasn't aware of it. Shouldn't be a problem since I'm not going at 200 amps but it's good to be easy on the welder.
* Leave the welder on between welds. The fan is cooling things off.
Well, that's the basics. When you make something post some pics.