I used the fibre reinforced wheels some years ago to cut the nuts and studs off marine engine manifolds. They are tough.
I have a couple of older Dremels, one with 5 speeds and the other one speed that I use with a Variac. For finer work small is better for me. the cord is not an issue at the workbench.
That said, most of the time I use my Foredom tool. The standard hand piece is driven by a flexible shaft and is about half the diameter of a Dremel so you can actually hold it with two fingers. It accepts a variety of hand pieces including one about the size of a dentist drill.
I have burned up a couple of Dremels. Never this Foredom tool.
Pete
The only Dremel I have burned up was the XPR400, and that was a known crappy design, lots of traffic about them going up in smoke on the Internet when I looked. Other than that, I've been using Dremel tools for around 40 years, and I still have an antique Dremel 395 that I've had for a very long time. It finally broke a plastic coupling inside, but I was able to get the part and the old boy soldiers on. When I need the smaller handpiece, I break out the flexible extension for my Dremel. Dremel replaced my cooked XPR400 with the model 4000. The Dremel 4000 has speed control and it'll handle some pretty heavy work, far more than I'll need. However, I still use the cordless 8220, plenty of power, portability, and very long battery life.
I have a corded Dremel. I have had it since the '90's. I have used it to cut and shape wood and metal. It is very versatile, but I wouldn't say it is a do it all kind of a tool.
Is there any "do it all" tool? If there is, I've never seen it. 
Yes there is, John. It's called a husband.
