The holder is pretty good although the top rig pops out from time to time. The exchange is not difficult, but annoying. The steel wool holder is very useful. I don't use a sponge at all as I don't want the iron to cool down when I use it, but it's a sponge so if you like them they're there. Overall it's good for the price. I'll probably upgrade it at some point, but for now it's MUCH better than the flimsy tin stand that came with my iron.