A power tool and accessories therefor including a variable speed motor for a mortiser, an integrated chisel positioning tool for positioning a chisel in a desired position, and an integrated tool sharpening device mounted directly on the power tool to permit ease and efficiency in the sharpening of tools. Additionally, an improved clamping arrangement is provided that permits firm clamping of a work piece without slippage. Greater flexibility in the hold down may be achieved by using arms for the hold down that are both rotatable about and can be translated along respective horizontal axes.