As you can see, when deciding whether or not you should own a step drill bit, there are a number of different things to consider. The most important thing to consider is how effective they will be at completing your task. For example, most people would prefer them to using reamers if they will be working with many different sizes of holes consecutively. This is because a single bit can take care of every hole whereas a reamer could not. On the other hand, depending on the level of precision needed and materials that you will be working with, a reamer may work out just fine. In general, a step drill bit can replace a lot of other tools for general purposes and a set of bits would probably be a good investment.