Will it accept regular 1/4" bits as well as the included double sided bits?

Yes and no, they do fit in the end that holds the 3/16" flat and #1 Phillips tip, however shaft is very deep with no stopper no keep small bits from just sliding up inside.Hope to have helped

Does this screwdriver have a magnetic tip?

No, it doesn't, but you could put magnetized tips in it; the socket is deep enough to hold the longer 2 ended bits as shown in the picture. I've never seen these bits in a magnet version but you could magnetize the ones that come with it.

what size nuts will it work on and is it 1 an2 phillips flat head?

It has #2 and #1 Phillips tips and corresponding 1/4" and 3/16" flat head sizes. By removing the screw driver bits, you get a 5/16" driver, 1/4" driver and 7/16" driver. The wire nut driver on the bottom works with several sizes of winged wire nuts. I've only used it with red, tan/beige and yellow winged wire nuts, but not sure if it could fit anything bigger than the red wire nuts. It won't work on smaller, non-winged wire nuts. ..hope this helps.

Does this store the extra bit in the handle?

The bits are stored in the shaft that you will pull out in order to change from one shape to the other. Actually all 4 pieces are in one convenient tool.

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Specifications

ASIN	B000NB85LM
Best Sellers Rank	#132,700 in Tools & Home Improvement ( See Top 100 in Tools & Home Improvement ) #535 in Screwdrivers
Brand Name	Ideal Industries
Color	Black/Yellow
Customer Reviews	4.8 4.8 out of 5 stars (380)
Global Trade Identification Number	00783250605224
Head Size	1/4 inch, 3/16 inch, #1, #2
Head Style	Phillips
Included Components	9-In-1 Ratch-A-Nut S
Item Dimensions	12 x 4.2 x 1.5 inches
Item Type Name	9-In-1 Ratch-A-Nut S
Manufacturer	IDEAL INDUSTRIES
Manufacturer Part Number	35-988
Manufacturer Warranty Description	IDEAL test tools are warranted to the original purchaser against defects in material and workmanship for the period identified in the operator's manual from the date of purchase
Material Type	Chrome Vanadium Steel
Model Name	35-988
Model Number	35-988
Number of Items	1
Recommended Uses For Product	Electric Appliances, Home Improvement
Set Name	Ideal Industries 9-Piece Ratcheting Nut Driver and Screwdriver Set
Special Feature	Durable
UPC	783250605224 094701347908 623853366019
Unit Count	1.0 Count

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Ideal Industries

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