I have to admit I am surprised by this tool. I tried the IR version which is very similar but without variable speed. Not only does this drill have speed control, you can even screw at lower speeds, and it has plenty of power. You must have variable speed to drill steel. Trying to drill steel at 2000rpm is just a recipe for disaster. You will surely come across a burned drill bit and the metal you are trying to drill will be too hard to drill with anything! I'm an auto mechanic with over 30 years experience and have used my fair share of air tools. I still have air tools many decades old that still work and many of them are CP. I expected their quality to go down like a lot of other things these days but this instrument is well made, partly assembled but mostly metal. Many reviewers were disappointed with the chuck, although mine seems fine, no missing teeth or loose keys, it doesn't seem like the best chuck either. I have an old CP 3/8" pistol style air drill with a stock Jacobs chuck and although it is very worn you can see a big difference in quality. In the automotive industry or other tough jobs I assume the chuck tends to go first. These drills are obviously designed to work in tight spaces, and they do it well, 3 1/2 inches in the chuck. I highly recommend this drill. Made in Taiwan if that's a concern to you.
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