Heck yes!!! It's a must have tool. I'm lost without mine. You should see the fancy ones the electricians at GM have. There's one out there that takes the end of Romex house wire and does all three ends at once.
OK - follow on question. The one at the local hardware store requires you to thread the wire through a hole based on the wire gauge. The one I saw on TV just grabs the wire automatically regardless of size and snip - it is done. The one on TV would let you remove insulation mid-wire. The one I saw at the hardware store would not because you would be required to thread the entire wire through before snipping. Where do you get the kind I saw on TV?
I spent many years as an electrician in a fire truck plant and a police car outfitter. I've stripped wires with just about everything you can imagine. The best I've ever had my hands on are the blue-point PWC22A. Pricy, but worth every penny if you make a few hundred or so connections a day. For what you are doing, the ones from lowes will be great.
I'm surprised Home Depot didn't have them. Try Lowes or any speciality tool store 'like' Harbor Freight.
