Dremel is a really handy tool for all sorts of jobs, but it has its limitations.
First up, the dremel brand flexidhaft is terrible. it dislikes bending past 90 degrees from the motor, slips a bit under heavy load and mine died pretty quick.
The corded hand piece is good for light jobs, but a really tiny chuck limits you to ‘mini’ burrs and cutting discs, ect, also, while it will run at high speeds, it severely lacks torque when in use.
Must say, that I loved mine until I saw these: http://www.woodworkscraftsupplies.co.uk/foredom-kits-c-436_155.html
Totally different beast! If you end up using the dremel a lot, then they would be a worthy upgrade.