Any truth in that?

Nope. My dad has one, and it's about the same as his Ryobi. I have a
Craftsman (black one, not the cheaper gray one) and it's nicer than
either of his. Hate to break it to you, but you still get what you pay
for. If I were shopping for a new cordless drill right now, I'd pony
up the cash and go with one of several reviews I've read recently that
recommend either Panasonic or Dewalt.
Andy