I don't know if the special is still running, but I bought the Hakko FX-888D. And I am very happy with it.

http://pinside.com/pinball/forum/topic/hakko-fx888d-digital-soldering-station-group-buy-1

I got fed up with Radioshack style irons and how they crapped out on me and wouldn't stay warm when working on a joint, and asked my boss (a 10yr+ electrical engineer who solders multiple times a week) what I should buy to 'get stuff done.' He said to get something temperature controlled or with a temperature control dial. Hakko, Weller, and a few other brands that make stuff for R&D or industrial repair benches are good choices.

I wound up getting a Hakko 905 station, and it has given me the best soldering experiences I've ever had. Keeps its temperature and heats up in like a minute or two. Not the cheapest thing out there, but it works and I'm confident it will keep working. For a fairly new solderer (my primary background is computer software work, not electrical or hardware), its made the process easier for me.

I got a Weller digital temp controlled soldering iron. Very nice and heats up within 30 seconds or less....didn't really time it, but it is VERY fast which is nice! I think it was $140.

I brought one of these home from work:
TrackPower TK950
TKPR0950.jpg
It retails for $90 here in Canada. It's a fantastic iron. I believe it's made by Hakko. (there are some markings on it that say so)

I just saw this after I posted. Store's located in Mississauga.

So if your looking to just solder in switches you can get a 25w iron from home depot or Lowes for like $20 bucks. I have done cabinet flipper switches, standup targets and eos switches without any problems. If your wanting to do boardwork then you will need a temp controlled iron as to not overheat the boards.

I picked up a Weller and it's amazing what a difference it makes than using the $10 one from Home Depot.

http://www.amazon.com/Weller-WES51-Analog-Soldering-Station/dp/B000BRC2XU/ref=sr_1_1

Weller only

I hope I remember... I work there!
hobbyhobby.com/store/product/328813/TK950-Soldering-Station/

Wes51 or a wesd51 [d = digital so it tells you what temp it's at].
use them at work and home and work flawlessly. fast warm up, long tip life if cleaned off regularly and consistent heating.

I would second this. Also the group buy for the Hakko 808 desolderer saves you some money. If you plan on owning pins for longer than 3 weeks, you will have plenty of opportunity to use both (unless you hire a tech for your repairs). The value of having good tools cannot be overstated. I can't imagine ever having to go back to those crappy $10 soldering irons and solder wick.... *shudder*

I agree with the others Weller only, get the variable temp one you can dial your temp in.

A desoldering iron is basically a soldering iron with a hollow tip that fits around connector pins and component legs and vacuums out the solder as it's heated up. Makes removing components easy and much less likely to wreck your boards.

I've never used a battery-powered one, but my guess is that it's like most battery powered tools, works in a pinch but you're trading off portability for effectiveness.
Desoldering irons are helpful anytime you need to desolder, but they are probably most important for board work. I think most of us with desoldering guns used the wick method or the bulb suctioners for a long time before getting them. Don't sweat it now, but if you find yourself doing a lot more soldering/desoldering and get frustrated with the other methods, just remember that they are available and that they are wonderful.

Have used battery powered and propane powered in past. yes handy if you have no choice, simple wire repair splice or whatnot. I do not think I would purchase as my only unit and if you think would be good for coils, lamps and other under playfield soldering I don't think they would do a good job. Have not tried though.

i'd get a good one if you are planning to do any kind of board work. a cheap radio shack one will work fine for soldering loose wires, but not sure i'd trust it for more sensitive stuff. a solder sucker is also a good tool to get while you are at it, though it need a lot of space to work for it to work effectively.
also, if you haven't soldered before, make sure you practice before working on your pin. takes some getting used to.
thinking 30 watts is the max you would want to use but others might know better on this.

I bought this for $38 off Amazon and it works great plus it's portable.
New tool 002.JPG

I have a butane like above for RC cars or where I don't have electricity, for basic soldering (coils etc) this is more than adequate. I used nothing but this for years, it also offers good portability for getting inside the machine
http://www.radioshack.com/product/index.jsp?productId=2062758&utm_source=GooglePLA&utm_medium=pla&utm_term=6402802&gclid=CKCt3dXC8bwCFYFhMgodMDUAkw&gclsrc=aw.ds

If you want a nicer one for "board work" meaning actual circuit boards, the above iron works fine, however for alot of use, and more adjustability of temp this is all you need as well. This I have on my work bench and it doesn't move. It sees a couple of hours of use per day
http://www.mcmelectronics.com/product/21-10115

Greg
Pinballpro.com