How can we have a mention of Cool Tool and not it's eccentric founder Bob Seals? Bob started Retrotec bikes and after leaving the bike world he founded Klean Kanteen. He's known for showing up to the early singlespeed races wearing nothing put a speedo.
I've been using a set of Fix-It sticks for a few years, I managed to lose one of them and yet to replace it. Along with the Fix-It Sticks I've carried a small chain breaker that was salvaged from some old Topeak. This unit looks like it could be a worthy addition.
Regarding 1/4 bits, get WERA HexPlus bits. They are better.