This thing has some really cool features, like snapping on and off the offset base and guide bushings that pop on and off.
This isn't exactly Festool, but I'm sure it would do great for a hobbyist... heck, for $2.50, the centering bit is worth it, if only for the fact that it's a tapered one.
I'm going to keep this thing as a spare for out-of-shop jobs.