I have this kit:
http://www.axminster.co.uk/proxxon-fbs-240-e-precision-drill-grinder-multi-tool
I've had it a while and paid nearly 80 for it some years back.
It is very good indeed. The chuck is very well machined and runs true, and the machine is powerful for non-drilling jobs. It seems to be quite resistant to filings etc damaging the motor (the last one, a B+D, caught fire while I was using it). There's a good range of speed control too.
There's only three caveats: The on/off switch is in the wrong place. If you have clumsy hands as I now do it's easy to catch it by accident. Secondly, there's a sprung locking pin for the shaft, near the front. It's right where you want to hold the thing sometimes, and if you get a sharp buzzing noise, you're rubbing it against the rotating shaft when it's on! Both these would be no problem to anyone with normal hands, I'd guess. Finally, the blown plastic case is entirely useless (but then they always are).
The smallest drill in the kit is 0.5mm and it really will chuck it properly and it's useful like that, although you need the drill running flat out, obviously. The ring just behind the chuck is so it fits in Proxxon accessories (wot I haven't got).
If it ever gives up I'll get another, most probably the heavy duty version, with a metal-clad gearbox.
Really excellent little tool, and the accessories provided are actually good too.