normally i use a keyless for the conenience of mounting an indicator and dont use it for machining . i prefe collets to hold my drills. .001 is ok if you are not using less than 1/8 drills not ideal but if you cannot readily replace the holder i wouldnt just pitch it . a collet holder will also help your z clearnce as it is much shorter and you should be able to ebay a keyed jacobs for 25-50 bucks so its not trgic just a bummer jeremy youngs
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