I bought a variable speed Dremel with the flexiable shaft attachment that gives me a pencil like attachment to run the assortment of cutting bits. It does a good job for your basic beginneer hobbist type saw mods like raising,lowering, widening and polishing intake and exhaust ports. You can do some transfer port work with it but it has it's limitations can't get all the way down inside the transfer port and you can't raise a transfer port opening to change it's timing you need a right angle grinder for that to do a good job.
I was never a big fan of Dremel and I always felt so guility about spending the money on it and the assecories for it, just for playing around with saw engines, till I snapped a cylinder bolt in the head of a Wisconsin engine. We tried everything to get broken bolt out, heat, E-Z outs, just wouldn't budge. Finally took that Dremel with one of those small carbide cutters I had and just kept grinding away the old bolt till I could see the threads in the head, ran a tap through it, problem solved. I thought for sure I would have burned that Dremel up doing that kind of work with it, but it surprized me how fast it removed that bolt. I don't feel so guilty now as that little electric tool saved me a lot or time and money getting that head fixed in house.
Larry