I found a Dremel attachment-compatible Foredom handpiece tool!
Precision Router Base
StewMac Catalog 142 PDF, PDF, Guitars
The Original Precision Router Base -Designed especially for fretted instrument work Developed here at StewMac by Dan Erlewine and Don MacRostie
StewMac Precision Router Base, The Original, Designed by StewMac
It's like having a third hand in the shop--simply thread your rotary tool into The Anchor then clamp it down on your bench or in your vise.
StewMac Anchor for Dremel
StewMac Rosette Router Base Instructions - StewMac
ToolGuyd
Foredom Power Tool - StewMac
ToolGuyd
Our sturdy base turns your Dremel into a compact plunge router perfect for inlays, routing saddle slots, cleaning fret slots and more.
StewMac Plunge Router Base
Precision Router Base - StewMac