The tools come with a variety of attachments that will all do a different job. Below are just a few examples. The blades are of different quality, just like any saw blade. Some will last just a few passes while others will last a really long time.
My wife bought me a Master Mechanic 2.5 amp tool (Model #129315). It came with a 34 piece accessory tool kit and a carrying bag. It is quite a bit louder than some of the more expensive brands but it fit in my price range (around $50). I have used the tool in countless ways: cutting off nails, getting to copper pipe in tight spots, sanding, scraping old caulk off window sills, grinding out grout, and cutting through base trim when installing a door (when the new casing is wider than the old). I have been pretty impressed with everything. I go through the blades pretty quick but I think its a good trade off for the time saved.
If you have any other questions check out Tool Select.com and type multi-tool into the search bar. They have reviewed of a few different tools and even posted some videos of people putting them into action. These are great tools to have handy and I believe every shop should have one available. If yours doesn't suggest it to them or seriously consider getting one for yourself.