I'm not sure how great this will fit in the forum but, its here now for anyone who may be as interested as i was this afternoon, i found an article on engadget basically showing the same thing, i've just modified the design a little for my own personal wants.
Here's the original article i found.
How-To: Make a surface mount soldering iron -- Engadget
I actually substituted the copper de-soldering braid because it has the flux stuff inside, with plain copper wire strands.
I found a battery powered bait well air pump, originally takes a D cell but works on 1.5 volts, i wired up a 1.5v fixed voltage regulator in hopes to use an ac/dc converter but with the extra amperage it had a little to much oomph so i went with a AA battery.
For now, this is what i came up with as far as mounting its a little rough around the edges but it serves its purpose just fine, also works for melting glue and burning fingers.
For now it will solve my problem of working with 0603 Surface Mount LEDs and other small components and saves me a few hundred bucks on not having to buy a reflow station.