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I've seen Craftsman Bolt-Out mentioned in several questions/threads about removing stuck or rounded-off bolts, a problem I've run into many times. There's no particular problem I'm looking to solve right now, but it's something I might like to buy and have on hand for the next time I hit such a problem. But first I'd like to know if anybody has experience with this tool, particularly:

  • Does it work often?
  • How does it work?
  • How do you identify which stuck-bolt situations it's likely to work for?
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Tools like this can really help in the right circumstances but they aren't magic spells: mechanics.stackexchange.com/q/3742/57 –  Bob Cross Apr 11 '13 at 15:57
    
Also keep in mind that the material they're made of is most likely harder than anything else you have in your garage and that includes your drills... –  Timo Geusch Apr 12 '13 at 0:09
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