This paper presents a historical view and present status of retractable bit design and drilling results. Despite the significant improvements in cone-sealed bearing rock bits, the special features of retractable bits provides a wider range of field applications. Scientific drilling, both continental and offshore and stratigraphic offshore boreholes, is an area for profitable application of retractable bits with a downhole motor. Another promising application is drilling and simultaneous casing where some prototypes have been successfully tested. Other applications such as horizontal and geothermal drilling look promising for future developments.