This is the new Dremel Stylus:
It's cordless, uses Lithium-Ion built-in batts and looks like a SWEET tool if you're someone that likes doing Mods (or anything else where a Dremel with a pistol grip comes in handy!).
Amazon.com has a nice little sale going on right now for it too:
Dremel Stylus. Comes out to just a little over $60 with free shipping and should be no tax.