I have one of those. Looks just like your Craftsman, but mine is maroon. I honestly like sharpening things with it better than my bench grinder. You don't have to worry about overheating the metal and losing the temper on chisels and things. It surprised the heck out of me how good it actually worked. The only downfall is trying to crank with one hand and sharpen something with the other. I got mine for $4 at a garage sale.