First I just received this so I don't know about the durability yet. However, I ordered two more. One for the car, one for the boat and one for my tool box. Collet securely locks all standard bits in place. Both with a deep groove at the bottom and with shorter nozzles that only have a tiny notch. Simply slide the bit into place and the collet will snap into place. To remove, pull the bit by pulling on the collet. Holds bits very easily and securely. The ratchet is easy to change and works well. The diameter and length of the handle correspond to those of a standard screwdriver. Not so small that you can't turn a screw, and not so big that you can't easily turn a screwdriver. It shouldn't be that hard to get right, but this is the first screwdriver of its kind I've seen that fits the bill. No, it has no bit memory. It seems silly anyway, I have way more bits than can fit in a pen.
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