I use one of these, and here is why:
Heats up fast, like 15 seconds or so and it's able to melt solder.
No cord to get in the way.
As such, it's portable, can be used anywhere. With or without an outlet.
Use your wire strippers to pull the solder attachment out, and instantly hit the shrink wrap with the flame. (watch where you drop that attachment though...)
Or twist out the solder head and use the built in heat gun.
And since it's a torch, you can heat stubborn bolts, start fires, or if your very patient and careful, make a grilled cheese sandwich....
More delicate tools may be better for fine work, but if your jumping around working on something big, making lots of connections, this thing is the best tool in your collection. I rewired my Bronco with this thing.