I've had this set in my tool arsenal for many years , but never used it much until just recently. Probably because I was using the Instey bit system, which was working fine. I discovered that this is actually faster and dose as good or better than any system I've used, if you don't need to use an impact driver . You can purchase any broken drill bits or countersinks at Home Depot as well. Tips can be released with the turn of an Allen wrench on my model but maybe on a more updated model they have a quicker method. Either way it's better than a press fit,since sometimes the tip has a tendency to come out in use or be too difficult to get out for replacement on those types. And they are magnetic, which is a must.