I have that Channellock set. No swivel caps, but otherwise they seem pretty nice to me. However - put some rust coating on ASAP!
Mine rusted like crazy! I keep them in my unheated shop (well, unheated until I light the wood stove), so it's not the best environment. Still, I was shocked how fast they got rusty - and how badly.
After I cleaned them up I degreased and painted the shafts. That seems to have solved the issue. I also put a little fluid film on the tips. I've got lots of screwdrivers stored next to those Channellocks - none rusted like that.
As you can tell, what happened haunts me. I recall having them for a couple weeks at most, and only using one, before coming back to see them covered in rust. I was really disappointed.