portable drill press AKA drill guide question

http://www.harborfreight.com/cpi/ctaf/Displayitem.taf?itemnumberA166
I have seen this product at Sears and Harbor Freight and was wondering if anyone has bought or used one. I have come across situations where this looks like it would be handy, especially doing handyman stuff away from the shop. Is it functional, piece of crap or ? Recommendations? Warnings? Alternatives? I appreciate any input.
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spearfox wrote:

Having used this type of guide (I have two of the original Portalign's that are "fixed" at 90%) on several occassions over the years, I can say they come in extremely handy when no other practical means of drilling a (relatively) straight and perpendicular hole are available.
I can not attest to how well the newer "adjustable angle" perform?
HTH, Charlie J. Legman
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