Yes it is nice to be able to put your projects INSIDE something isn't it? You know, to hold everything together so it doesn't flop around? Discuss the techniques here!
If it has a way to attach a hose, maybe you could do thin stuff with it. However, it probably doesn't have the suction power you need for a decent result.
You can get a shop vac for under $50 at Wal-Mart, or a decent one for around $100 at Lowes.
A lot of portablizers here are saying that they're really good prices. I think Life of Brian said he had more luck with forming the .06" plastic, but others say that you'll need .08" to make a sturdy portable.
I got both, because you need a $20 min order. I say get as much as you can so you don't have to keep paying on shipping.