Does this hold completely round drill bit shafts?

NO. It’s a magnetic chuck for holding HEX head sheet metal screws. 1/4” & 5/16” across the flats. Sorry. 🇺🇸

Is the 1/4 end tapered or flat like the 5/16 side

It's tapered down for the 1/4" side.

How does this piece hold up with a impact drill?

If the impact is too powerful, sometimes the magnet breaks. But the bits 1/4 and 5/16 holds pretty good. I don’t use this bit for 3”-4” self tapping screws 5/16hex, I only use this for service calls and opening panels for hvac.

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MalcoMSHMLC C-RHEX MSHC 1/4" & 5/16" SAE Cleanable, Reversible, Magnetic Hex Bit-Tip & Zip-in Driver | Flip Bit, Flip Socket (4in)

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