anyone have experience using it on a plaster wall?
Yes. Worked great on plaster and lathe. I would not use a recip saw on plaster and lathe unless you want a big repair job.
As for the tool, I use one fairly often. I use a dremel and have used a Milwaukee cordless as well. The harbor freight version hasn't held up as well, the blades wear out faster, and the blades weren't interchangeable between brands.
I use it for drywall - cutting out boxes, undercut door jambs for flooring, scraper tool for cleaning up construction adhesive on wood you are reusing, and other plunge cuts where a recip would cause too much damage to get started.
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