Dealing with a stripped screw can be very frustrating. No matter what you do, you only seem to make the problem worse. Speed Out promises to fix that with one simple tool.
Speed Out, $20, is a set of 4 double-sided drill bits. Side A is a drill and side B is the extractor. The instructions guide you through the process of picking the right size, drilling out a hole in the existing screw head and then using the B side to extract the screw from the hole.
We went to ACE Hardware in Cherry Creek to test it out. Co-owner, Andy Carlson, setup a stripped out screw demo for us. We picked the appropriate sized Speed Out bit based on the instructions and drilled the hole in the screw head. When we flipped the bit and tried to extract it, it wouldn't budge. Then, we jumped to a larger bit and used the extractor side. It came out immediately. It seemed as if the original bit drilled too big of a hole for the corresponding extractor side. None the less, when we jumped up a size it worked beautifully.
Carlson was happy with the results. Clearly it didn't work in "10 seconds or less" as the commercial had promised but it worked none the less. Andy's advice is to take your time and follow the instructions. He says stripped screws are a delicate but common issue that you don't want to rush. You could easily and quickly make the problem worse.
In fact, he liked it so much that after our segment he decided to carry the Speed Out in his store in Cherry Creek. You will want to look around the store because many hardware stores, including ACE, sell similar products that are often less expensive.