I see the $450 unit has 1/2 hp. and this one:
http://www.coasteltools.com/prod_ct3.htm has 1/5 hp.
I think I'd better pay for what I want.

Mike Henry has the wilton and I was impressed to watch it cut
3/8 steel rod. Its a 4 inch saw and seems to have lots of power.

I have the normal coastel tool saw with the optional vise. It
does well with 1/4 and less. Takes a bit to cut 3/8. The HD
motor might make a difference. This is a 3 inch saw and has
less power than the wilton but I like the vise better and it
was cheaper (ordered directly from coaster). I have found that
using a ceramic blade helps greatly with HSS toolbits.

Keep in mind that the wilton is a 4 inch saw and the and the
coastel is a 3 inch. A 4 inch disc could be fitted if you remove
the blade guard and fab a bigger one. I do not recommend running
it without a guard!

Coastel pushs their blades and charge excessively for them. I
ordered several different blades from J&L and I like the Hertel
ceramic discs the best. I even tried the Norton Norzon. I
dont remember the specifics but I do know that I decided on
the Hertel ceramic. Look for Hertel ceramic abrasive cutoff disc.