my daughter bought me that same little iron a few years ago (because i asked for it) and mine is the same- i still use it on occassion- but it constantly comes un plugged and is quite aggrivating...i went into an lqs one day and saw one that looked like mine on their rack- i told them about my experience with the one i have and they let me know they use theirs all the time- sell lots of them---and love them---
seems walmart & joannes get the ones that other companies turn down--their quality expectations are no where near what reputable shops expect.
so, i fight with mine- have an attitude about it everytime i need it- it does heat up nicely (when i can keep the cord in) and it's the right size...and one day i will probably break down and try another one from a store that takes some pride in the products they carry.