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Thank you both, that is really helpful. I'll try again!
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I know this is a fairly old thread, but, having just followed Dennis' instructions successfully, I would like to add my experience. The first collet was perfectly formed first time, and stuck firmly to the collet punch! I guess, because I didn't 'wiggle' the collet and punch in the hole to perfect it, but gave it a few good wacks. Heating (the punch sucked in all the heat), twisting with ridged pliers (nope), cutting (would probably have worked, but I was worried I may scar the punch) wouldn't budge it. Finally a firm grip and twist with some end cutters removed the now ruined (previously perfectly formed) collet.
Attempt #2; First I lubricated the punch (I used burr lube which was to hand, but I'm sure your favourite lube will work just as well) and did so at intervals while forming, and testing that collet was still removable. Second attempt perfect AND removable from the punch in that state.
Thank you for the original post Dennis, you definitely seem to have found the trick with the handy little tool, I'm now looking forward to spending much of the rest of the day experimenting with different sized tapered collets.
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