-Yep, a pencil style soldering iron will get the job done for many jobs. I've been soldering for ~50 years (Mil Spec trained), and I finally bought a 60W Weller Soldering Station for home a few years ago; I should have bought one a long time ago! One of the tricks for soldering is to use the right tool for the job. The soldering station tends to keep an accurate tip temperature, which is important for PCBs and delicate work. A soldering pencil will work for splicing small wires. A soldering gun is good for landing gear and bigger jobs.
-Here are a couple of inexpensive soldering irons:
http://www.toddsmodels.com/product_p/hcar0776.htm
http://www.toddsmodels.com/product_p/welwlc100.htm