There are many high speed piercing tools being sold, however....you do get what you pay for. I have purchased at least 4 different systems, one off of Ebay for about $100.....I don't use it. I prefer the NSK Presto unit and the price of this is not ourtrageous when I consider I paid close to $2,000 for my first high speed system (which uses oil as a lubricant). I suggest you look around and see if you can demo a Presto and some other systems for sale owned by club members or your local wood store before you purchase one. What I like about the Presto is the power, lack of vibration, no oil to spray on the wood surface, readily accessible parts and fast bur change out. I did write a brief article in the publication by Fred Holder called, More Wood Turning, December 2010 issue, on beginning piercing. Hope this helps.
Peggy Bookey