Anyone use one of these? A magnetic chuck for drill press? This link goes to Harbor Freight page. Any idea how it works? Doesn't seem it would be strong enough to hold anything for drilling...but maybe I don't understand. Then again, seems it would full of drill chips all the time.

EdB?

http://www.harborfreight.com:80/cpi/ctaf/Displayitem.taf?itemnumber=90504