ROTARY-TYPE EARTH DRILLING BIT, MODULAR GAUGE PADS THEREFOR AND METHODS OF TESTING OR ALTERING SUCH DRILL BITS

An earth boring drill bit including replaceable gage pads. The gage pads and the corresponding surface of the earth boring drill bit may include complementary securing elements which mutually engage one another. The gage pad may be removably affixed to the earth boring drill bit by an affixation element, such as a bolt, a mechanical locking element, brazing, welding, mechanical affixation, or another known technique. The invention also includes a method of testing differently configured gage pads employing a single earth boring drill bit, a method of replacing the gage pads of an earth boring drill bit at the drilling site, a method of customizing an earth boring drill bit to include one or more gage pads of desired configuration, and a method of altering the balance or net imbalance of an earth boring drill bit by replacing at least one gage pad thereof.