I have a couple of Dremel tools and a flexible shaft. I usually use my Dremel 8220 battery powered tool, gobs of power and no cord at all. If I'm using the flexible shaft, I use the Dremel 4000. A great feature of the Dremel 4000 is that it has speed control, so it doesn't bog down with a load, very slick.
I wouldn't turn down a Foredom at a good price, but I've never felt the need for one.