I purchased one of these and finally had an opportunity to use it today.
It comes with a quick release mandrel and five Cut-off wheels. ( 1 1/2" diameter)
It is marketed as "Dremel EZ Lock EZ406" which includes the Mandrel EZ402 and 5 disks EZ456.
I've used the other type in the past, thin 1 inch disk with the screw hole to fasten the disk to the shaft.
The disks would have a tendancy to break at the first sign of a bind or twist.
The EZ-Lock system works perfectly, the cut-off wheels are keyed so they lock into the mandrel and you will use it down to the metal retainer on the hub.
I used it to cut stainless steel, went through a few wheels, it worked great and easy replacement of wheels.
You do want to use a dust mask when using this, because the wheels are larger there is some airborn particulates.