Unfortunately it is not that easy to place just any drill bit in it. The Festool bit has a machined plane on the shaft to accommodate the tightening screw. If you put in a normal drill bit with a round shaft it will not be centered. I have experimented with this. However, I succeeded to machine the plane on a normal drill bit with a Dremel and a special router bit for metal. So with a bit of work you can make it happen.