I picked one up at Home Depot yesterday.
I am returnming it tomorrow!
I thought I would give it a try, and return it if it didn't work. It
does work. Or maybe I should say it
did work.
It is only designed for light duty work and I knew that when I got it. I was working with 18 guage wire and .062" molex pins. It worked great until I ran into the MAJOR design problem. The instructions warn you not to keep the solder in contact with the workpiece for more than a few seconds. Again I knew this before I started. I was going along, crimping and soldering. I noticed that the heat can build up when doing a bunch of work. So I would crimp a few pins and the solder them, crimp a few more and then solder them allowing the ColdHeat to rest in between.
Apparently it was too much work and the socket that the tip plugs into began to melt!

I immediately shut it off and pulled out the tip. The inside of socket was ruined. The damage must extend inside as well, because the power switch will not move anymore.
As far as I can tell, the tip does heat up and cool down quickly, but if you are not extremely careful, the metal collar on the tip starts to heat up, and it does not cool down quickly.
Save yourself some aggravation and cancel your order.