Can I use an impact (1/2" battery powered) instead of a wrench with this kit? Or will doing that tend to break the studs?

I wouldnt do it to mine. If i wanted to use a drill, I'd grab my hole saws. It probably would depend on what gauge/type of metal you are punching out. I broke my 1/2" die using a wrench on a stainless panel.

Is there a knockout for 1-1/2" stainless steel? If so, what is the part number?

yes there is for the 1 1/2" and 2" just check on amazon and it will come showing you the kit

Are all of the knockouts slug busters, or is the picture right?

the picture is not correct it shows 735BB knockout punch set which contains only one slug buster. The item for sale is the 7235BB slugbuster set which contains four slug busters.

ASIN	B000LDEZNO
Best Sellers Rank	567,496 in DIY & Tools ( See Top 100 in DIY & Tools ) 22 in Knockout Punches
Brand	Greenlee
Colour	Green
Customer Reviews	4.7 out of 5 stars 185 Reviews
Global Trade Identification Number	00783310320135
Hole Count	4
Hole count	4
Included Components	Unit^Instruction Guide
Item Dimensions L x W x H	30.5L x 22.9W x 6.4H centimetres
Item Type Name	Greenlee 7235BB KO SET, SB, 1/2" - 1-1/4"
Item Weight	2.95 Pounds
Item weight	2.95 Pounds
Manufacturer	Greenlee
Material	Manual Knockout Set
Operation Mode	Manual
Pin Hole Diameter	0.5 Inches
Product dimensions	30.5L x 22.9W x 6.4H centimetres
Sheet Count	10
UPC	783310320135 768684118120 767654282748 784497102170 013227064366 636123673861
Unit Count	1.0 count

7235BB Slug-Buster 1/2" - 1-1/4" Manual Knockout Set for Use with KRW-1 High-Leverage Ratchet Wrench, Hole Punching Knockout Kit

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