Here are some pics of my vintage Craftsman Stainless - Lifetime ratchets.
The 1/2" drive and the 1/4" drive are marked Stainless; however, by experiment I found that they are readily attracted to magnetic fields. The ratchets thus appear to be made from a martensitic (magnetic grade) stainless steel. Martensitic stainless steel is a specific type of stainless steel alloy. Martensitic stainless steels are magnetic and austenitic stainless steels are non-magnetic.
The 3/8" drive marked Lifetime has a decidedly more chrome-ish, although not highly polished, finish.
Ratchet facts:
Country of Origin - USA
thin profile ratchet head with handy thumbwheel, and quick release button
3-degree offset ratchet head (to prevent scraped knuckles when working in tight places)
comfortable nonslip grip (also reduces arm fatigue)
large handle grips (for increased torque)
made of a martensitic (magnetic grade) stainless steel
first appeared in the 1987 catalog
marketed as Sears Best
had a 5-year run - featured in tool catalogs dated 1987 - 1991
Stainless Ratchets – years appeared in catalog and price
- ------1987-- -1988--1989- -1990- -1991
1/4----$14.99, 14.99, 17.94, 17.94, 19.99
3/8----$19.99, 19.99, 21.26, 21.26, 24.99
1/2----$24.99, 24.99, 26.35, 26.35, 29.99
The Lifetime ratchets do not appear in the catalogs and as a result I suspect that these were sold in stores after the Stainless versions ran out and were the "warranty replacement ratchets".
An unfounded persistent rumor has it that these ratchets were fragile and were thus quickly warrantied out of existence. However, these ratchets had a five-year run matching the 5-year run of the exclusive Quick-clean/Quick-release ratchet.
The socket sets marketed with these ratchets were listed in the catalogs as chrome plated steel alloy (not stainless steel) heat-treated, oil-quenched, and tempered for extra strength.
As far as them being fragile, well, that's why they make breaker bars.