We've covered the iModela, Roland's $1000 hobbyist CNC milling machine over at MAKE, but here's a new photo showing some of the things you can make with it. A milling machine is sort of the opposite of a 3D printer, because it carves away material from a piece of stock, while a 3D printer adds material.
I think home-based 3D printing is not yet ready for prime time, because the spatial resolution of the things you can make with 3D printers is not that great. It will get better in the coming years. But the output from this milling machine looks great (as far as I can tell from the photos).