After struggling with 3 same size Irwin bits and thinking my drill chuck was off center or bent, I was finally able to confirm that they all became off center did. It wouldn't have made much of a difference with a hand drill, but I was trying to drill some fine solder holes in 5-1/2" wood and the tip of the screw was pulling the bits in an elliptical path, creating friction and rougher holes. Then I got this magnet which is just a lot better quality as you can see right out of the box. And the tip of the screw is dead so it pulls the bit right where it needs to go.
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