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I got the Dremel 300 for 80CAD with like 40 attachments, and I was REALLY impressed with it the first time I've used it. Now I can't wait to use it to cut my UMD door. Basically, any dremel will work, but if you want variable speed, you'll have to add your own with a light dimmer if it doesn't already have one. Some good ones with built in variable speed are the Dremel 300, and the variable speed multi-pro one. Both are relatively cheap.
Also I find it easier to just use the adjustable head that it came with instead of constantly changing the collets all the time. If you have a dremel you should know that that means.
I herd you like stealing quotes ey?