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I use lots of Phillips-head sheetrock screws, which are made of hardened steel. They’re tough on bits. A worn-out bit can’t be re-sharpened, so I reshape it to fit a slotted screw using a small diameter sanding drum. I place the bit in a magnetic holder and slide the holder into a wooden block that has a kerf cut in one end. Tightening a screw squeezes the ends of the block tight around the holder. Using the block, I can precisely position the bit in order to grind perfectly parallel sides. -Simon Watts
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