Bang on. I'd imagine in practice it's handier for using different driver bits when there's so many variations now but it works for both of course if you need to sharpen or replace a drill bit. I still use mine for DIY stuff (which I'd guess is the main market for it)?
It's handy to be able to swap quickly if you don't have a separate driver . Picture it. You're short of a spare hand while holding summat steady with your head, on one foot on a stool,the other foot holding a wonky ikea cupboard against the wall, a pencil in your mouth, and the drill bit you just put on the window ledge has rolled 2" out of reach but you have enough arm movement with your one free hand to clench the drill under your chin and swap the bits round and you're wishing you were down the pub or indeed any bloomin' where type situation.
All of a sudden next doors untrained dog appears. It's always trying to smell peoples crotches and occasionally gets a bit bitey. Behaviour laughed off as "look! he likes you!" by your mad as a hatter but in a nice ( :shock: )way neighbour with the inexplicably well paid jobs in the City from over the road who you once invited over for christmas drinks and they bought tequila and at a certain point in the evening whipped her top up and started breast feeding her FIVE year old DemonGirl with scant regard to where you were supposed to look. And the Mrs has gone 'No! It's fine! We'll look after it while you take your mad untrained demonchildren to the psychologist!" then promptly left you alone with it and gone out shopping with the kids.... a tiny bead of sweat appears on your fore head and drips ever so slowly down your face..... And the dog lets out a little uncertain, nervous, bitey sound like 'Bork?'
And all you can think about is that time you read 'Cujo' by Stephen King when you where 8.
Times like that will let you know if you have the vitamins.
It's perfect for those sorta situations.
Bit clunky in tight spaces though although I do believe I forewarned you of that.
Cheers.
Chris.