On the B&D model. I picked mine up being cheap at Home Depot. Was around $35 at the time I think...full variable speed, not this 3 speed stuff. I needed one at the time and didn't see a need to spend tons on it. Turns out to be quite the trooper.
Randman mentioned he liked a couple of things better than his dremel. They are that it has a flip up lock for when you change bits. It'* nice...the button thing works for most though.
As for the smoking....
my tools take a certain amount of abuse. Those that can't handle it or be returned for free replacement...well....I replace them with ones that will.