Do you have to pull or push on unit to release bit?

The collar slides back towards the square end when a bit is locked. So you would move the collar towards the hex end to release the bit.

will this fit a zyklops speed ratchet?

Yes, as long as you choose the correct Zyklop Speed ratchet "Drive" ie 3/8"

Is it magnetized? Will it hold my 1 inch screwdriver bits without them falling out as soon as i start to point it in a downward direction?

It is not magnetized as there is not a need. This is a locking bit holder. It locks the bits in to the holder.

Is this adapter made from impact-rated cr-v or cr-mo steel?

Thought cr-mo was better suited than cr-v for impact use...

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05042755001 Adaptor Quick Release Chuck 784 B 3/8"-B/1, 1/4x43mm, Silver

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