The benefit of the Irwin Lockhead Adjustable Wood Drill Bit is that it gives you the ability to drill holes that meet your specific needs. a little tricky to set up to get the exact hole size. There is a gauge on the bit but this is only a rough measure of the diameter you will need. To get an accurate size you need to drill a hole, measure the diameter and adjust the drill bit until you get the right size. This drill bit is not balanced due to the misalignment of the adjustable cutting edge, so it must be used in a low speed drill press.