Personally I don't think that the variable speed is that important. Most projects with solid stock you won't need the speed control, but it can come in handy when working with veneers or plywood, where you'll benefit from having a little more control.
MTCW,
Dave
Thanks for the input. I don't thing I will be doing veneer's anytime soon. I just need something that will do better than the little square palm sander I have.