Yeah, it's only a 60W iron, but it's not just the power rating, it's the size of the tip. A larger chisel style tip has more thermal mass and will be able to solder 10-12GA wire with ease. And for the smaller jobs, use a smaller tip.
However, a smaller tip on that iron may get too hot, so you should have some sort of variable heat station. You could go out and get a full-fledged soldering station, but to save a few bucks, you could make a dimmer-controlled station, like I did: http://rc-monster.com/forum/showthread.php?t=19227
Yeah, it's only a 60W iron, but it's not just the power rating, it's the size of the tip.
[ insert joke here ]
haha! in all seriousness, though, i have the hakko 936 solder station with the large broad tip, and the copper mesh cleaner thingy. while it was a bit pricey, it will certainly be the last soldering station i'll ever need.