The FDW710K shown here is available for $329 as of 2010. Freud’s Doweling Joiner operates like a biscuit joiner, but it uses two boring bits to make holes a perfect 32mm apart. It provides a very fast and accurate way to dowel parts together and can also be used as a boring machine, such as for making shelf pin holes. The hole spacing also lends itself to installation of European hardware.
This machine comes with 1/4" bits. Additional bits are available, up to 1/2", for $8 or $28 each. While this machine doesn’t use the large loose tenons the other tools use, it does offer additional versatility as a boring tool. Keep an eye on this machine, as I’ve heard that some changes are on the way.