I had a cheap one of these, it died fairly quickly... I splashed a few quid more and got a Wickes one and it's far better. However, as these reviews suggest: "it’s more better (sic) if you just want an electric screw driver but wouldn’t advise if you want it for a drill. ...the drill moved around as it’s not strong enough to stay in one place" and "Very lightweight but suitable for small jobs around the house. The chuck is a bit wobbly so it is better suited to screwing and not drilling", I would not recommend this (or anything like it) at all as a drill.
I second BRX's recommendation, Dremels are great.