I got one for Christmas, and tried it out on a small model-related job that involved soldering pieces of brass wire together. I used small-diameter, lead-free solder from Radio Shack. The iron worked fine; the tip is a useful shape and I found I could do work in pretty close quarters with no heat sink. (In other words, the iron heats only a small area, and cools off fast.) My only complaint was that the batteries wore out in a hurry.
None of this contradicts what other Forum members have said about the tool's limitations. I suspect it doesn't have enough oomph for big jobs. But for small stuff on ship models, which are my primary interest, I see it as having quite a bit of potential. It's small and handy enough to let soldering take place on the model - which can't be said about a soldering torch. Its portability would also be valuable to people who do a lot of traveling with their models - particularly such folks as RC enthusiasts, who operate their models outdoors.
Youth, talent, hard work, and enthusiasm are no match for old age and treachery.