When I say wrap your dremel... here's an example of what I mean. =)
This is, to date, the only pumpkin I've ever used the dremel on-- and it was just used for the detail work. I think if I'd had a larger variety of tips it might be more useful, but it's still pretty darned messy... which is normally why I don't use it. I used my old Pumpkin Masters sculpting kit for the majority of the sculpting.
Since I was a noob and didn't have the right tools, this took me quite a long time-- just used Pumpkin Masters sculpting kit:
This is the first pumpkin I ever sculpted-- took me FOREVER. Again, because I didn't have very good tools. You really want a tool that will take a lot of "meat" off the pumpkin:
Another one-- this took less time because I had the wood gouges:
My advice if you sculpt-- have a photograph or some sort of reference to look at as you carve. 3D carving/sculpting isn't like setting a pattern on the pumpkin and marking where everything goes. You really have to "wing it"... so that's where a reference photo comes in handy... because once your initial lines get carved off, you're on your own. =)
... and just because you're sculpting doesn't mean you can't throw in some traditional carving as well. =)