Mike, As usual, I think a little different than everyone else!
Two years ago I bought the fractional set of collets from 800-watt and if I had it to do over again I would NOT buy a complete set. Instead I would buy individual collets.
I have probably used my collets as much as many and more than most members here and I have NEVER chucked up at least 2/3's of the collets I have, and probably never will!
There are probably 3 or 4 collets I use a lot and one or two I use now and then including a couple metric sizes above 3/4" which is the largest you are going to find in a set.
If I had it to do over again I would visit their ebay site and order individual collets
http://cgi.ebay.com/ER-32-HI-PRECIS...m&pt=BI_Tool_Work_Holding&hash=item4836b371d4
They have good prices on the collets and offer free shipping! They also have a website:
http://www.discount-tools.com/ER32-collets.cfm
I have ordered a lot of tools from them and their service is good.
Just something to think about.