Metcal version is basically the same (SMTC-105), 1.7mm gap (attached).
Its great for desoldering the SOT23, but its close to useless for holding and installing them. So as Ian.m said, if you're doing a huge batch, I'd maybe consider using this tool to remove them all, then switch to something else to go and install the replacements.
Hot tweezers are better for removing, holding, and installing the new part, as long as the width is wide enough to cover two legs. You can also use tweezers for 0603, 0805, etc. without needing to switch tips.