Sent my 2704 in for service and they put a non-carbide chuck on it from a 2703. I like it better and I haven’t had the need to use channel locks to loosen it. That’s been a big issue with a few of our drills. I can’t see wear being an issue, once the chuck is locked down it’s not going anywhere. I think the carbide inserts help it bite more into bits with a round shank but anymore all the bits I use have hex shanks so I don’t see the need.