I have the Ridgid oscillating spindle/belt sander as well. Been very happy with it (mine also has a tilting table that doesn't line up perfectly, but it's usually a non-issue -- the perfectionist in me wishes they provided an adjustment nonetheless).
I use both the belt and spindle attachment. The spindles are wonderful for smoothing curved cuts on the bandsaw, jigsaw, and occassionaly the scroll saw (smallest spindle is 1/2"). The belt attachment is great for cleaning up edges and making minute adustments when a board (pipe, tube, etc.) is just a fraction too long.
My only complaint is that Ridgid/HD only sell two grits (80 and 150 as I recall) for the spindles. I would prefer to see that expanded a bit. The belt sander is a 4"x24" belt, so that is a standard item and is available in a wide range of grits (I have 36-240, but I believe there is a 320 out there if you look hard enough).
Don't forget to send in the product registration promptly (follow alll instructions) to activite your lifetime warranty -- otherwise you only get the (i believe) 3-year standard warranty!