I use this Dremel rotary tool for finishing and polishing of my 3D printed parts. Though I never used Acetone vapors, i think in the majority of cases Dremel can be a good alternative.
http://www.dremel.com/en-us/Tools/Pages/ToolDetail.aspx?pid=3000#.U9t3EvmSzDQ
I just bought a dremel 8200 that I’m planning to use on my prints. What tools/tips do u use the most to grind, polish and finish your prints?
I use sanding bands for grinding and cotton wheels for polishing. It takes some time and effort for the skill to be developed. It is important to use continuous soft moves. Since the polymer might melt a little from the friction I try to avoid it by applying smallest force on the tool.