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No, I would keep the dremel. Buy the stand for it that makes it a drill press ($47). Great for sanding scales to rough shape, drilling Pin holes, wire brushing jimps.
But that is just me, you can...

JCsixx, I can help here alot, because I have been down this road recently.
I NEVER sand the blade with the dremel. It can only cause problems. If you have deep rust pits and you use the Dremel, you...