Works as advertised. I've seen others mention that it doesn't fit their bits, but the item description specifically states that it is "ImpactXPS Power Bits 12 Point Bit Collar". And I've tried various 2" impact XPS bits and they all worked fine. The magnet is strong and will drill through up to a 3" screw without having to guide/hold it with your hand. But there is a slight hesitation. Game on the first drill. Other than the off-center wobble, I can't think of anything that wouldn't go with it. I will definitely buy it again if needed.