Okay, after seeing the video on making the tool, I'll stick with my Dremel and its so many attachments. That sand paper attachment will only last so long and then it is time to rebuild it - or at least replace the sandpaper. Sure, awesome work to build it but that time can be better spent.
With the extra supplies inherited from my dad's stuff, I may never run out of stuff for my Dremel - sanding discs, cutoff discs, etc.