Brian kindly left this comment under Christmas #2. As it is chock full of useful Dremel-related miscellany, I am republishing it as a post, with his permission of course. Here it is, with a few minor modifications (and with a few comments from me in italics):
EZLock now has an extended range & overseas readers may find the SpeedClic info helpful.
EZ495 EZ Twist Nose Cap
Note: (As discussed here) collets have the advantages of better grip & less of the tool sticking out vs the chuck. That reduces vibration. If you use Router Bits in a chuck they often come loose.
The EZ Twist is just a new Nose Cap for the 4000 & older Dremels. It is used instead of the flat metal 90962 Wrench (spanner) to tighten & loosen the black Collet Nut & the silver Driver Cap or Driver Adapter used for the Flex Shaft (225), Mini Saw (670), & Right Angle Attachment (575).
I can say that the new EZ Twist Nose Cap works great. It can be retrofitted to most existing Dremels & just replaces the existing nose piece. It isn’t very expensive either at under $10. I have used it on a 395 Multipro as well as the 4000.
To use it you just unscrew it. It comes forward off the mounting thread & then the internal socket fits onto the Collet Nut to allow you to loosen or tighten it. You don’t have to take it off the neck of the tool to use it. Just slide it forward enough to fit the Collet Nut.
Simple & easy & nothing to go wrong.
Great that you can “upgrade” an older tool
From a quick look at Dremel’s North American sites, it seems that the EZ Twist Nose Cap now comes standard on all rotary tools from 3000 and up (corded) and from 8100 and up (cordless). While I originally was somewhat dismissive of the wrench built into the housing cap and didn’t see much advantage over the separate wrench, I have since changed my opinion after using the 4000 extensively. It is definitely a major convenience and a no-brainer upgrade for older compatible tools.
EZ407SA EZ Drum
The EZ407SA EZ Drum is also a new item. It is a mandrel for the 1/2″ sanding bands that doesn’t need any tool to change bands. It replaces the 407 mandrel & is also priced at less than $10 or is available in the EZ686-01 EZ Lock EZ Drum 18pc Sanding & Grinding Kit which has EZ Lock & EZ Drum Mandrels & an assortment of other accessories.
So far they don’t have an EZ Drum Mandrel for the 1/4″ sanding bands.
EZ Lock / SpeedClic
The EZ402 EZ Lock / SC402 SpeedClic Mandrel (same item in different markets) is a quick change system that doesn’t require any tool for accessory changes. Originally the range was just Cutting Wheels but that has changed.
The EZ Lock range includes new design Cutting Wheels (normal, carbide & diamond), Grinding Wheels, Sanding Discs, Abrasive Buffs (like scotchbrite plastic scouring pad), Detail Abrasive Brushes (fingers of abrasive plastic) & Cloth Polishing Wheel.
The normal EZ Lock Cutting Wheels are reinforced & last at least twice as long as the older versions & most EZ Lock Cutting Wheels including the Carbide & Diamond version are 1 1/2″ diameter. Note that ANY sideways force on a cutting wheel will cause it to fracture near the hub. The new EZ541GR Grinding Wheels have a recessed hub area & have been specifically designed for grinding on either the edge or face & even for surface grinding, sharpening, and flush grinding.
Kits are available with various EZ Lock & EZ Drum mandrels & accessories. Some are only available in the USA.
Many EZ Lock items have a EZ suffix & Speedclic items replace that with a SC. Not all items follow that coding system though.
The EZ Lock Cloth Polishing Wheel, Abrasive Buffs, & Detail Abrasive Brushes (abrasive rubber bristles) can be used with either the EZ Lock or the older style Standard 402 Mandrel with mounting screw through the centre.
The EZ Twist Nose Cap & the individual EZ Lock / Speedclic & EZ Drum mandrels can often be found for less than $10 each so they aren’t expensive upgrades.
The EZ Lock / SpeedClic system is also a great step up from its screw-based predecessor. That said, I notice a substantial amount of vibration when using the EZ Lock mandrel with the EZ456 cut-off wheels or with the EZ544 carbide cutting wheel. Since I only have the EZ Lock versions of these accessories, I don’t know whether the vibration is caused by the wheels themselves, by the mandrel, or the wheel/mandrel joint. This has not stopped me from using the system, but is annoying.
Thanks again for these notes, Brian!