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G4TechTV's the Screensavers did a mini review of the cold heat gizmo, and found that the tips break often. I think it comes with at least one replacement, but after that I don't know if it is serviceable.
I have a set of $1.99 wire strippers somewhere around here that look like the ones they include. Garbage. They nick the wire when you use it. A real non starter.
If portability and quick cool down are important check out some of the protable butane soldering irons. very small (many smaller that cold heat) very quick to heat. and when you are done screw the cap on and you are good to go.
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