Rotary tools are a neccessity in every garage. They are small, lightweight tools that cut, drill, buff, or just about anything else! I have been using the Craftman Wizard for years now, and it has been holding up well. It is currently discontinued, but there are Ebay auctions where you can get them for a low cost.
The Wizard uses Craftsman's old Versapack design, which suits me just well since I have a Craftsman drill that uses Versapacks also. The Wizard comes with one Versapack and a charger for it. My only concern for the Versapacks is that the charging can take a while (day or two) for a good charge. Once its charged and plugged into the Wizard, everything works perfectly. There are two speeds ont he Wizard, I tend to use the faster one since I have no need of the slower speed.
The Wizard comes with a variety of accessories, small plolishers, sanders, but my most favorite is the assortment of the cutting discs. They provide you with plenty of the cutting discs because they tend to be fragile. Make sure to take the disc off after you finish cutting! Overall the Wizard works absolutely great. Lightweight, portable, and has a million different uses. The cutting wheels work flawlessly, and have helped me tremendously through many little projects.