These things are crap. I got a shiny new 1/4 drill (The CP
reversible one with the spiffy black paint) for $50 off, which is
conveniently about how much I'll have to spend on a decent replacement
chuck.
Damn chuck has a ton of wobble, the closing mechanism gets stuck
every 1/3 of a revolution, and the whole things binds up before it gets
tight enough. Slipped a 9/64 bit in PLASTIC!
Also have one on my 1/2" which will need replacing soon. (the chuck,
not the drill) It's nowhere near as bad, but still unreliable and not
too straight either.

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B.B. --I am not a goat! thegoat4 at airmail dot net