I had a COLDHEAT one for a while in college. It was decent with fresh batteries and was nice because I didn't have a place to setup permanently. Now that I have a garage/workshop I bought an adjustable temp station because I was tired of how much heat and time I had to dump into components to get a joint.Honestly if you are a beginner solderer I would skip the pen and get a standard iron. Then once you get better and understand what's going on a little better you can get a pen for travel, and even then only small jobs.
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I had initially planned to buy a few of them as Christmas gifts until I read the reviews out there, and decided it wasn't worth the money (no matter how cheap you can get them).
+1I have one, used it once, and by used I mean 'tried to use but it was crap' - its been shelved since.
They are fine as long as your doing very small solder jobs. Such as soldering a pair of 26 awg wires together. Trying to solder larger wire or components doesn't work out to well. They are certainly not a substitute for even the cheapest of 20W irons.