There are a few things for you to consider before you start. Zbrush does allow you to box model but it’s a bit cumbersome compared to other software. This is not really a problem if you are modeling for illustration or artistic purposes but for precision modeling it’s not the best tool to box model. It does no allow you to make the mesh transparent for you to align the points with the reference plane. It only gives you one viewport, which means you have to move your model around to align it to the different views (this can be done easier through the use of markers and layers tough). It does not allow you to remove points or edges once they are placed on your model. Zbrush also lacks some advanced tools that other poly modelers take for granted. This does not mean that you cannot do it in Zbrush but that sometimes it can be more difficult and cumbersome than in other modelers.
Here are two pictures of your drill created with Zbrush and Wings3d. The color picture is Zbrush. Both took a litle more over an hour to make.

On the other hand, Zbrush allows you to make quick work of all the small details such as the indentations in your drill. This can be done using projection master which allows you to literally paint those details into your mesh. Zbrush it’s also great for quick manipulation of a mesh using the move and draw tools. It’s very much like clay as you said. This means that you can make those changes and revisions very quick.
My advice is to work with the best strengths of your tools. Use an external box modeler to create the base model without all the small details. Then import this mesh into Zbrush and create all the small details using Projection Master. In Zbrush you can also make those revisions your client wants at the last possible moment.
This is of course just an opinion. You should check the tutorials that Aurick mentions and make your own opinion by experimenting yourself.If you want the models of the drill that I made send me an email or private message and I’ll send them to you.
One question for you. Why didn’t you make a front and back view of that model. It makes it harder to create an accurate model without those.
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