I see that Travers Tool has an ER16 collet set including a 3/4" x 6" long straight shank holder and spanner wrench for a sale price of about $155. It says it is made in Italy. The collet nut looks to be about 7/8" dia, maybe a little larger in the photo. No obvious spec on that. I would like to know if anyone has experience with this kit, or recommendation/insight. It seems attractive from a cost standpoint, for something I don't expect to use "all the time".