http://www.hometalk.com/search?filter=pocket+holes Is this what your looking for?
Most folks use a version of the Kreg Jig
in its simplest version it runs about 20 bucks....I picked up the fancy version with a clamping rig etc. As a cabinet maker it has really come in handy.
The Stepped bit produces a flat bottom hole at an angle, then a special screw is used that just penetrates into the second piece of wood.