Tool warranties are great; however, no warranty, no matter how good can make up for lackluster or poor quality. Tool fit on the fastener is crucial. No warranty will provide a perfect and tight tool fit. That is governed by the quality of manufacture. If you think you are saving money by buying cheap Allen wrenches, think again. Look at the fastener and those rounded flats. You don't get that with Bondhus Allen wrenches. They fit very tight on a high quality fastener...no wiggle at all. Just using that as an example.

Craftsman tools used to be made in America by Danaher. Now they are all almost exclusively made in China and are of inferior quality compared to their old American-made tools. I know, I have some of both and the difference in tool fit on the fastener is starkly different.

Park tools in general are fairly "decent" quality. I have found, though, that Hozan is often times better for the same price. If you can afford it, VAR, in my opinion, for bike specialty tools is top in the game; unless of course you have Campagnolo parts and Campy tools... That's why they are the most expensive. For regular tools I buy only Snap-On or Mac...oh and Bondhus for all Allen wrenches.

There is a reason why professional bike mechanics and car mechanics buy the most expensive and highest quality tools. It's because they fit the best and work the best.