3/32" dia. shanks are the jeweler's preferred standard for burs and small rotary tools. They fit the adjustable chucks found on most flexshaft handpieces as well as 3/32" handpiece collets.
Bud/Flame Burs have a gently curved taper that comes to a point. Similar to a cone bur, they are useful for tapering, enlarging holes, or repositioning holes, and for a variety of stone setting tasks.
Fine-Cut Burs are less aggressive (remove less material) than standard cut burs. They also produce a smoother surface on your work.
Vanadium Steel burs are economically priced. They cut precisely when new, but don't retain their sharpness as long as other steel alloys.