Here is my drill, standard keyless chuck, never had any problems with drills slipping in the chuck etc, good hammer action when needed, drilled hundreds of holes with it, so have my sons, even in concrete. All it needs is some muscles to tighten the chuck and away you go. Modern keyless chucks are a million miles away from those early ones that were to be found on Black and Decker drills and the like.
Chuck quality is more about balance, concentricity and runout. Any old chuck ought to manage to hold a drill, ones that don't are called paperweights.
Well this one runs good and true, as I said I have had no problems, if I drill 4mm hole, I get a 4mm hole, not 4.5 or 5mm one so I assume it runs true. As far as I'm concerned its perfectly upto the job of drilling holes especially the type of holes most people ever need to make. If you were talking about absolute precision then you world would certainly not be looking for a handheld drill.
Yeah well, you're a sparkie so your idea of a round accurate hole is something you can make with a cold chisel!
The point was that assessing a chuck by "it grips well" is a rather narrow and insufficient set of criteria. It's no good gripping the drill if it's trying to move the whole tool around the centre of the hole either because it's not concentric or doesn't centre the drill properly - both faults I've found in really cheap chucks. Ditto vibrating your teeth out because of non-concentricity of the whole chuck, even though the drill bit might be concentric. A good impromptu test is "Can you drill a round small hole (say 1mm) in a chunk of soft material like thin-ish aluminium while hand holding it?" alternatively "Can you drill a 1mm hole in something reasonably strong and tough like mild steel plate without snapping the drill bit?". I've used a lot of cheap drills that would fail that test first time.
I'm not a sparkie, I'm an electrical engineer, and as such did an extra 4 years of training that sparkies don't do.
Sorry "posh, overqualified sparkie who tells someone else where to hit the cold chisel".
Just because some chucks use a key to lock a drill bit in, and some don't, doesn't infer that one type is inferior. No hand held drill is ever going to be, regardless of the make or type of chuck or drill, more capable of making holes with the precision that you seem to implying.
Nothing to do with keys or not, or precision
per se, it's about concentricity and balance of the the bit, the chuck and the motor shaft regardless of whether it's hand held, dangling from a bit of string or cast into a seven tonne block of tungsten. If the bit is offset some distance from the centre line of the whole assembly, or held at an angle to the centre line, it's going to wobble, if the centre of mass of the chuck is offset some distance from the centre line it's going to wobble (or if the drill body is held by seven tonnes of tungsten, destroy the shaft bearings in record time). Wobbling about when trying to drill holes is not good. Again, all I'm saying is that there's more to a good chuck than just "It grips the bit".
Edit: I don't know where you got it into your head that this is about keyed versus keyless chucks. I never say anything about keys, and the most precise chucks - if we start talking about fixed drilling machines - are collet chucks, not a key in sight.