Another thing a bit annoying about the MIPs is that the sizes marked on them is very hard to read, and all of the drivers look identical. I think they may have just addressed that issue and marked the sizes clearly on the shanks recently, unless it's only those quick bits I'm thinking of.
Very true about a 1/16. if you strip out a 1.5mm, use a 1/16 and it'll fit well enough to get it out usually.