I discovered some interesting information (e.g., possible issues) regarding the default values that the Hole Wizard uses. I'm posting this to 1) inform other users of these issues and 2) inquire as to other's experiences.
First - Countersunk Holes for Countersink Screws NASM24693
The hole wizard models the countersink diameter AT the maximum screw head diameter. It does this regardless of whether you choose a Hole Wizard "Close", "Normal" or "Loose" hole.
Applying anything but a unilateral positive size tolerance to this diameter results in a condition where a fastener could seat above the mating surface. I realize hardware is 'typically' undersized and this is not 'likely' to result in an issue but it still merits mentioning as it could happen.
Second - Counter bored holes for Socket Head Cap Screws NASM16995
The hole wizard models the nominal DEPTH of the counter bore AT the maximum height of the screw head. It does this regardless of whether you choose a Hole Wizard "Close", "Normal" or "Loose" hole.
Applying anything but a unilateral positive tolerance to the modeled depth of the counter bore results in a condition where a fastener head could protrude above the surface. I realize hardware is 'typically' undersized and this is not 'likely' to result in an issue but it still merits mentioning as it could happen.
Third (and certainly NOT the least important)
The hole wizard has some seemingly very random diameters for clearance holes for ALL types of screw clearance holes (counter sink, counter bore and plain clearance) - regardless of whether you choose a "Close", "Normal" or "Loose" hole. This of course affects the hole location geometric tolerance due to the floating or fixed fastener formula being based on the hole's maximum material condition.
For Hole Wizard nominal holes - a true position diameter of .014 will NOT guarantee part interchangeability - even in the floating fastener case! This was the bad assumption I made and want to make others aware of.
For example:
A #10 fastener has a MMC of .190.
A nominal Hole Wizard #10 clearance hole (for all types of holes) is .201.
For a floating fastener case - this means you need a true position of .011 on both parts.
For a fixed fastener case - this means you need a true position of .005 on both parts.
An example of the randomness:
A #4 fastener has a MMC of .112
A 'normal' Hole Wizard #4 clearance hole is .1285.
For a floating fastener case - this means you need a true position of .016 on both parts.
For a fixed fastener case - this means you need a true position of .008 on both parts.
When using Hole Wizard for all of the fastener clearance holes, checking the "Loose" fit produces holes - in all cases except for a #2 and #4 fixed fastener - where a true position diameter of .014 will guarantee interchangeability.
Caveats I'm aware of - but still...
1) Yes you can always tweak Hole Wizard holes when inserting them (my thinking is that this is a lot of manual/repetative work and prone to error - thus not lean)
2) Practical issues when using the default values are not 'likely' because hardware is typically undersized and parts are typically produced much more accurately than the allowed tolerance range on the drawing.
After reading many of the Hole Wizard threads here - I see one can define their own set of holes. I'm still curious though -
* Why are the default values what they are? This is kind of a rhetorical question...
* Does anyone use these values "as-is" or is it typical to do the math and define your own values?