I've got the tool - used it about four times now. I've always had to replace more stuff than just the insert, so I've never got close to the fabled 5 mins. It is MUCH nicer to use than a humongous Stilson and saves you cringing with embarrassment whenever friends spot the tell-tale teeth marks on the cap.
Lots of people have made their own 2069. See
http://forums.quattroworld.com/a6100/threads/2.phtml.