I'd say those little portatorch thingies are designed for soldering, brazing and welding sheet metal. It is rediculous that they include a cutting tip as the 10cf acetylene tank cannot safely run even a zero cutting tip. Recall that the rule of thumb on maximum use of acetylene is 1/7th of the tank size per hour as a consumption rate (not 1/7 of the tank per hour but rather the rate). 1.4 cubic feet per hour of acetylene is not enough to run a #2welding tip much less a cutting torch. If you ask Lincoln or the other manufacturers what they recommend these things for they immediately talk about thin sheetmetal as in HVAC. It would be nuts to think you could weld or cut even 1/8 inch steel and meet the safety requirements on acetylene consumption. Again, because of the risk of allowing acetone to reach the regulator, the maximum draw on acetylene at any time is 1.4 cubic feet per hour. You cannot run it faster than that for part of an hour and consider it safe. Check out the welding sites where this is frequently discussed.
Even the acetylene B tanks, the ones that are about two and a half feet tall and 8 inches or so in diameter, are not recommended for use with even the smallest rosebud tip and they max out with a #1 welding tip and zero cutting tip.
Bottom line is that the little portatorch set ups are meant for HVAC and plumbers. Definitely not intended for even hobby welding and certainly not for cutting steel plate.