Hakko is a Japanese product and of the highest quality, and extremely xpensive. The Circuit Specialists version is essentially a counterfeit soldering iron manufactured in china made to look like the Hakko. Whoever makes it will slap anyone's label on it too because they dont really care. Mine worked okay for about a year or two but I never really did like it. I just bought a Weller WES51 and the quality difference between those two irons is huge. The Weller is worth every bit of the extra cost. The amount of time I wasted waiting on the counterfeit to warm back up or just trying to hold it right so it would work was such a pain.
For cheaper pencil types, Jameco carries an Xcelite(?) brand that my students have had some success with. They even make a variable temp one too. Something to look at.
brian