Dave, you're right. I've learned that a 'hammer drill' ought to be limited to small holes; for the larger ones I use carbide core bits (hole saws).
Fine Homebuilding ran a good piece detailing the differences between a 'hammer drill' and 'roto hammer.' The Harbor Freight roto-hammer has served me well- and, now that I have a 'real' truck, I can carry it with me all the time.
As I accumulate more, specialised tools, I do find that the basic ones last longer,as they are 'pushed' or 'made to work' less.
