TLDR: Ideal for sheet metal and when you need to drill a variety of hole sizes. It's expensive, though, so if you just need to poke some holes in wood, get shovels. We just remodeled our living room and re-routed a massive amount of AV cabling in the process, so I had some to use. I used to try drilling a hole for the cables with a wide drill and then somehow move it around the edges to make it bigger, or I used a putty knife. but it can be difficult to poke through thick wood and you must be careful to keep them perfectly vertical. This resulted in a hole that was not round and often had jagged edges. This drill bit makes it easy to drill a hole up to an inch wide. I know it says 7/8 there, but the chisel is actually 1 β wide (but then it's hard to even out the hole). The inch width is NOT wide enough for the thick fork at the end of the cable (the 3 prong one), but I can use the 2 prong versions with a little wobble and if I push the drill all the way down. With a Bosch 20V cordless drill I used it to drill holes in the following materials: chipboard Β½ inch. Β½ inch red oak, some thin plastic and very thin sheet metal (don't know how thick it was, it's a cheap filing cabinet). It was absolutely amazing on sheet metal, it was easy to control the size of the hole and drill different size holes without changing drill bits. The tip doesn't "run" when you try to fire it, so you don't have to hit the center like my dad taught me. It works great with wood too. The "stepped" part means that if the material is larger than β , the hole itself will be "stepped". You can control the look of the hole by going a little deeper than necessary to "slant" the hole toward the center. It was good in the forest as the cables didn't run into sharp edges. You may feel "footsteps" as you drill. Only β and 1 β are marked on the steps. Therefore, you must count or measure if you need an exact hole other than these dimensions.