Works pretty good.
Things you need to get: Arbor, I got and Integy from Tower Hobbies.
Things you need to have on hand when cutting: A caliper to make sure you are getting the right diameter. The measure system isn't exactly accurate.
Things you should get: Hudy bit. This makes the cut a lot smoother and lasts a lot longer.
This is a great truer for someone on a budget.