If you want to know something about this product, post your question here for others to answer. If the bead is dented, use a metal-cutting hack saw to cut through the bead above and below the damaged area (image 1). Then use a utility knife to cut vertically around the corner bead (image 2). Corner bead is usually attached with drywall nails, so use a pry bar or claw hammer to remove the fasteners.
As for time saving tips, take what you’re talking about with your patch and throw in a piece of FibaFuse drywall tape (either a couple inches larger than your patch, cut from the large rolls they sell for repairs, or a few pieces off of a roll of regular size tape) and glue it on with Super 77 or other similar adhesive spray (I just keep a can in the truck).
Cover the tape and taper or feather” the edges of the new compound onto the surrounding wall surface (image 5). Drywall compound needs to be applied in multiple thin layers because thicker layers are too difficult to smooth out and will eventually cause cracking.
Rick, I have been in the drywall business for 33yrs, and it always amazed me how customers are willing to pay electricians up to $140.00 an hour for their work, but don’t want to pay for a service that in most cases is finish work, by the time your done matching texture and painting to match as well!
For deeper or larger holes, drywall repair kits are sold that usually include either simple metal clips that support a replacement piece or some sort of backerboard that inserts into the hole and suspends itself in place while you cover it with joint compound.