I got a model 500 with the case from Sears for about $90 after it was on sale, and I had a coupon, and it was one of those 10% off everything sale days. It sharpens up to 1/2" bits, and is easily upgradable to sharpen 3/4 inch bits by getting the larger collet. I LOVE IT! I It even came with an instructional video. I sharpened all my old bits that I had been meaning to throw away. It is very easy to use, and does split point and masonry bits, also. It is very nice to see that America can still manufacture quality, innovative goods at a fair price.