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Yes, there are published standards. ASME for example. The problem is that most cheap ass screws and screw drivers are not made to meet them. When properly made (both fastener and tool) they are at least as good as anything else, and superior to many.
I have several gunsmith's sets of screw driver bits that contain over 40 different sizes of slotted tips alone. It's amazing what can be done when the bit fits a proper slot. You can apply a lot more torque, either to break loose a stubborn fastener or to adequately torque down a new one, with a slotted fastener than you can with any allen head or phillips head.
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Jeff
'72 911T 3.0 MFI
'93 Ducati 900 Super Sport
"God invented whiskey so the Irish wouldn't rule the world"
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