Buffdaddy Recommends: Project Partners Rotary Tool Workshop

If you're in need of a cheap but reliable Dremel replacement, there's actually a $20 option available, and one that's not from Harbor Freight (not trying to put them down, but you just have to know which of their products are reliable). Found at Sam's Club the other day, and my father and I each bought a set. (Amazon.com product page).

In addition to the main tool and the various accessories, the set even comes with a stand and a flex shaft, which are extremely helpful for making precise cuts, grinds, and other things. Both of our sets have yet to show any real damage, aside from normal wear and tear (aka dropping them. Oops.)

Unless something strange happens, I would have to rate this above an actual Dremel in terms of usefulness and reliability. I'll post again in a few months whether this tool holds up. In the meantime, though, it remains a great bargain.