HF currently has their multi tool on sale for $39.99. With an additional 20% off coupon, it works out to $31.99. Even better when you have a $25 Visa gift card in your pocket:gar-Bi.
I've had this tool for a couple of months, and figured I'd share my impressions.
This tool is pretty well made. The casing is plastic but feels solid, no sharp edges or rough casting etc. The motor is not quiet, but it's no worse than your average power sander or rotary tool. Vibration is not bad, I found it easy to control. There are various attachments you can connect to the tool, that are secured via washers, bolt and an Allen wrench. You have to crank down hard to tighten the bolt, or things will vibrate loose after a while. Periodic re-tightening is required. The tool gets warm quickly, but did not overheat.
The sanding attachment works well. It behaves exactly like you expect it would. I'm not sure how useful it is in woodworking, the main reason to use a power sander is to handle large surfaces. For small surfaces (which is when you'd use this), hand sanding, file or rasp are all viable options. I could see this being useful for metalworking.
The horizontal cutter is the cat's meow. It allows you to notch things, cut door jams, trim edges etc. that are almost impossible to do with a circular blade. A regular jig saw is often too bulky, and a hand saw requires some space to pull back and forth. Since this blade vibrates, you need no additional clearance.
The circular blade attachment is good for cutting thin materials. Since the blade is much larger than the cutting disk you might find on something like a Dremel, it might have some use in woodworking, e.g. kerfing a strip of wood to bend it, trimming corners off a drawer bottom. Not sure yet on this one.
I played with the scraper a bit, but have not used it for a project yet. Looks handy though. I have not yet purchased any of the other attachments, like the grout removal tool.
For the money, this one is hard to beat. I have not used the Fein multimaster, but did pick it up in the store and looked at it. The Fein is definitely a better quality tool. But also a lot more expensive. If you don't plan to use this kind of tool a lot, or you're not sure yet, the HF version is a great alternative.