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Go get this:https://www.dremel.com/en_US/products/-/show-product/tools/3000-variable-speed-rotary-toolThis:https://www.dremel.com/en_US/products/-/show-product/accessories/dremel-115-carving-bitThis:https://www.dremel.com/en_US/products/-/show-product/tools/220-01-workstationAnd This:https://www.amazon.com/Proxxon-27100-Micro-Compound-Table/dp/B000S81MHYAnd try it yourself. This is the exact setup I use for large material removal. If I need to get more precise, I use a different bit. It has a little play, but for milling out a space for decoder, It works.
I agree that for relatively simple jobs like milling a space out for a decoder,which does not require super precision, a setup like this will work. In fact, for anybody who happens to already own a drill press, you could just mount an X-Y table under that and go to town. It is not generally a good idea to do milling with a drill (or a Dremel) because the chuck bearings are not designed to withstand sideways forces. But for the relatively light work we are talking about here, and the small number of times you are likely to do it, it should be fine.
---snip---You do, of course, need to be careful to not mill you hands. And, you need to take very light cuts to avoid having the drill chuck fall out because its Morris taper is not designed for much side force.---snip
Bart,Here is another to consider.http://www.tophobbytrains.com/millingchargepermillpoint.aspx