Until you just posted that, and I looked up the term, I didn't realize that was the name for it. I just always thought of it as his very smooth little drill press. You really do get a great feel for the material when you use it, and a regular drill press feels so ham-handed after I got used to using it.
For most of my more delicate circuit board work I've actually taken to using a pin-vice instead, go figure. But then again, drilling through .064 fiberglass doesn't exactly take a lot of effort.
Which reminds me, I really need to get hold of a nicer pin vice than what I've been using. Something with a ball end, some bearings, and a better chuck.