After getting crappy service from a "watchsmith" at the local swap meet and over paying at the mall, I decided to get this tool set so that I can change the batteries myself.  This tool set has everything that I need; it didn't occur to me that I might have to pop one side of the wrist band off when I use the tool that unscrews the threaded backs on watches so having the whole kit really helped.  I was going to buy just the tool that removes the backs and that would've been a mistake because trying to fit the tool with the wrist band on turned out to be very difficult.  I've adjusted a wrist band on one of my wife's watches with ease because I have everything that I need.  It really is worth it to buy a tool kit like this instead of just the ONLY tool that you THINK you might need because you just don't know what situation you're going end up dealing with when try to take a watch apart.  The gold tool is great for popping the clips that hold batteries in as well as putting those clips back on (beats using a paper clip).  Just make sure to buy your batteries on-line too because you'll get raped buying from Radio Shack or at any store (I almost bought my batteries from RS at $5 each, fortunately they didn't have a battery size that I needed and when I looked in Amazon I found that you can get 5 batteries for LESS than $5 in many cases--I spent $15 instead of $45 and I have extras left over for future changes!).

This tool kit will handle all of the basics--but know that it's NOT for watch repair.

08/01/12 Update: Since my first review I have learned that the "gold tool" is actually a wrist band tool (the point side is used to push the spring pin in and the forked side is used to guide the end of the pin when putting the wrist band back together).

The tool to remove the screw-on case backs has proven to be durable and dependable. I'm very happy with this tool in particular since it was the main reason why I bought the whole tool kit in the first place.

I stand by my initial comment stating that the tool kit really isn't for watch repair.  I have recently started to tinker with old mechanical watches (e.g. manual wind watches with movements from the 50's/60's) and quickly learned that the tweezers and screw drivers are just not meant for watch repair.  The tweezers are good for battery removal but proved to be faulty when I tried to hold the balance cock in one position while trying to reinstall the balance spring.  The balance cock kept moving in the tweezers which caused me to mess up the balance spring and the smallest screw driver in the tool set proved to me gigantic when I was tightening the screw that tightens down the post that holds the end of the balance spring.  I've spent about $200 so far on various beginner level tools (with no end in sight to get the basics required for watch repair) and have seen a big difference between this tool set and what are considered to be "beginner" level tools.

Don't get me wrong though, this tool set is my "go to" set when someone needs a battery change or a wrist band adjustment and always will be--I just won't be using it for watch rebuilds.  I still recommend this tool set highly for saving money on minor, non-mechanical tasks.