This is definitely one of the better HF values out there. Right in there with the Chicago Electric 4 1/2" angle grinder. Much more power and speed than a "Dremel" type tool, much less torque as well. I have one mounted in a router base I made and use it for the occasional sign. It will get into a much tighter radius than a larger tool. Sucks air like it was going out of style, but works very well. One of those tools I liked so well I bought two more "just in case" one crapped out and all three are running fine. I try to keep them lubed by dribbling some oil into the intake. Using mostly carbide burrs from CTI (http://www.carbtools.com/). And all three are touchy on the air control. Not something to leave plugged in as it will keep the compressor cycling continually. But I really like these little guys.

I've only used this tool once. I bought it for detail cleaning on motorcycle engines. Its the smallest rotary tool I've ever owned. I'm quite impressed, especially for a $25 tool.
Like some other HF air tools, greater care needs to be taken in the design/manufacture of the air valves. I can hear air leaking through the tool even with the air control valve completely off.

Pros:
Small, inexpensive, fast, smooth, diverted exhaust

Cons:
Air control valve could be better, tool chuck is basic