I have a similar contraption. Nice for doing small, fine, detail work. But if you're thinking of using that to replace their full-size equivalents (thought of it before), the job tends to cost more, uneven/inconsistent, etc. It's like using a putter on a par 5 hole from tee to pin. I recently got a drum sander, but previously I was using a small disk and belt sander (disk size was six inches). You had to adapt your technique a bit given the way the abrasive material works its way into the job, but you could go farther with that thing than a Dremel. As a drill press, assuming the job could fit on the small platform, I noticed that the drill has a tendency to wander away from the point in which the hole was expected as you apply force. I guess that's a due to the tool being made to do more than what it was intended to do.
Keep that but invest in the right full-sized tools. They don't have to be new. Craiglist and Kijiji are your friends. Heck I recently bought a Ryobi scroll saw from the 70s for C$40 and it works like a charm!