I am starting a small metal processing business and bought this magnetic drill. I had previously bought an Evolution hacksaw and was impressed with it so I bought an EvoMag42. The drill has some limitations that all magnetic drills have in common (distance from drill to base) that you have to overcome, but this thing is great. The magnet is more than strong enough to hold whatever you need (although I haven't tried it upside down yet). 't. Using the supplied oil supply system will get you dirty, but the cut quality is excellent. There are also plenty of depth adjustment options so you can use the drill on a stand, more like a drill press, or to drill into a raised piece of steel. I've paired this drill with Evolution hole saws and Bosch cobalt drill bits and it chews steel like nothing. It's quite noisy, so ear protection is recommended. My only complaint is that the locking lever used to adjust your height slips a bit over time as you drill multiple holes. This can cause problems when trying to make a repeatable hole with the exact depth. Otherwise, if you're just drilling holes in the steel, you won't have a problem.