yea, I have never been able to drill with them, like you said too fast. Even a #80 burns... I got it for my birthday as a kid, I was building model planes. It didn't have the speed controller. I said to my dad, lets just take a light dimmer, he said I needed a motor controller as he read the amps wrong... it's 0.9 amps, but he read 9 amps. So he picked up a motor controller.. Made our own box, still have it... I guess it was a controller for a fan or something. Quite expensive... took me months to pay off.. paper routes didn't pay much.
Cut offs, sanding drums, burrs, polishing, ,wire wheels, and grinding are it's most useful features. It has gotten me out of spots that no other tools could fit.