If you are laying out a complex piece and accuracy of hole placement is required, then transfer punches are a day saver. Set up your new part insert an appropriate punch that fills hole completely and give it a tap. This centers tha drill in the exact center of the hole and insures that your very accurate in it's placement. The more options that you can cover the better. Remember there are decimal, metric, whitworth, acme and others so a very complete set will cover nearly any sized hole you needed to mark the exact location of. I made a basic set a few years ago out of drill rod that I turned to correct size and ground a 60 degree pyramid point on the tip and hardened. Worked great till some one decided they needed them much more than I. I hate lifetime tool "borrowers". I guess thats what prompted me to form a personal policy that it is OK to borrow an item once, the second time indicates I need to own that tool on my own. Yes, I have a huge collection of tools (on the order of a quarter million dollars worth easilly over 40+ years of collecting and working with them), but I have never been waiting to finish a job because I lacked a certain or specialty type of tool. My Matco tool box costs more than my car. And the serial number is longer too. Just the box alone weighs over 1000 Lbs, empty. Filled must be moved by a medium duty or larger flat bed wrecker. A little car one will not lift the deck when it is ready to load.