Ric,
http://cgi.ebay.com/HEAVY-DUTY-LONG...366?pt=LH_DefaultDomain_0&hash=item588d532c6e
Pat posted the above & you can get something similar in air powered with the needed snout. They are usually referred to as peanut die grinders. It is not so much an issue of power as the right cutting bit or wheel. Look for an industrial carbide bit or cutting wheel. We got our carbide cutting bit from Acme Electric. The better bits or cutting wheels can run over $15 for each one.
As far as that plasma cutter ---- I would be cautious --- we got a new one --- similar but a different brand --- that quit working. Even when the inverter style was working it created horrific noise in every branch within the electric of our building. Usually, you have to pay a quite a bit more than $699 for a really good plasma cutter. Maybe someone else's experience could be better.
I wonder how expensive a good laser cutter would be ---- anybody check that out? Water jet requires a flat 2 dimensional object & it appears like you need to work in 3 dimensional.
MJ