I used this to take off my cassette that was put my old wheels, and also put on my old cassette to my new wheels. This tool works seamlessly and is just a must get if you are using a Sram or Shimano cassette.
I bought this after I realized that my FR-1 tool would only work with my SRAM lockrings. I figured it was cheaper to buy a second tool and made more sense than replacing all my Shimano lockrings with SRAM models! It works like it's supposed to and the price was great. In fact, the design is better than the SRAM version because the splines are better defined, which results in no slippage.
My cassette lockring came loose due to sloppy work by my former mechanic,so i decided it was worth it to invest in a tool,and it was.The only thing I would mention is it takes a 1 inch socket,which I happened to have, to fit over the end of the FR-5.