i knew that this kind of tool existed on the catalog of specialized "for luthiers" supplier with red company color, it just came and come at a very hefty price.
this one's affordable, does the job neatly, and is even light in weight (which, shall we ever get back to mobility one day, won't hurt).
i've used it when rewiring an Ibanez hollow-body whose output jack is very near to the (rear) stap button... didn't know whether the socket supplied with the pickup kit required to fix a 1/4" nut, or a metric one, so i bought both version.
i never tried the cheaper "plastic" version before, so i can't make comparisons... but i like my hardware to hold fast, and even with the inherent fragility of small-bodied archtop, you can lock things for good with this one (and its metric sibling).
...worth every penny, and you wonder how could you do without this before... what's not to like? and, if i can spend one word of advice, buy both version, you never know when you'll need the other one.