It's a blender. It's a food processor. It's a hand mixer...
Unlike the stand-alone single task stick blender, I have simply fallen in love with my KitchenAid 3-speed stick blender with removable whisk attachment, 2 1/2 cup chopping attachment with locking lid, and 3 cup blending jar.
When used with the removable 8-inch blending arm, this device works like a standard stick blender, allowing you to puree hot liquids like soup and BBQ sauce directly in the pot. By using it in the pot you are eliminating the danger of pureeing hot liquids in a standard blender where the steam can expand and blow scalding liquid all over you and the kitchen.
Remove the blending arm and you can attach a whisk for whipping eggs, cream, and more. Alternatively, you can attach the main body to the chopping attachment and use it like a mini food processor. I use mine for chopping nuts, making compound butters, pulsing herbs or garlic, making pesto, and countless other small chopping jobs.