I’ve never noticed any differences between spade bits. The twist-tip ones seem to work as well as the sharp tip ones (I guess that’s what you call them.)
To me, the big advantage of spade bits is that they’re cheaper than twist bits or forstner bits of the same size. Also you can sharpen or modify them easily, to give them edge spurs, shorter or sharper center spurs, smaller diameter, etc. But that’s it. They can’t handle much of an angle, they don’t clear the hole well, and they leave a rough hole. They aren’t even faster than twist bits.
But they have a place in a workshop, no doubt about it. Good luck!