Phillips screws and screwdrivers

[airheadPete]

Here's my two bits worth:
Snap-On's apex-style phillips' bits come in what they call "ACR" style. They have small ridges perpendicular to the axis of the bit. Looks like the teeth on a fine file, this gives them REALLY good grip and helps prevent caming-out. Pretty much the only thing we used on the airplanes, even though we have to buy them ourselves, (not too pricey, got the job done right), the company supplied bits, but they were shit. (Have you ever experienced the joy of snapping off FIVE bits in a row trying to extract one screw?!)

As for the valve grinding compound trick: it works great. The company actually stocked the stuff to help out. A couple of tips: use a dab on the tip of the bit when you feel the screw starting to go; before you strip it out!
If you can, use a speed handle with a knob on the end, this will allow you to lean on it, supplying enough downward pressure to keep it from camming out. (There were a few times I had light bruising on my chest the next day from trying to save panels with a few hundred screws in them.) If you needed valve compound to take it out, throw it straight into the trash, no questions.

Don't use compound to install screws, or remove them as a matter of course. It'll rapidly wear stuff down, and there'll now be a lot of abrasive grit getting spread all over your expensive machinery; not good.

Failed? Snap-On stocks some excellent screw extractors sized to fit in a 1/2" socket; short and stumpy, never seen one break.
If you're in this for the long-haul, buy the best tools you can afford, you'll hand them down to your kids; buy cheap tools, get shit work. (Though Harbor Freight does have it's place. )

I do want to get some JIS standard cross-points; after trying to make Phillips fit Reed & Prince standard screws, (ever heard of those?), I believe.     Anybody got a good source?

Sorry for the windy dissertation, but it hit a nerve. 
(I thought the therapy had helped.)