No idea on the iron, but the hot air would probably shrink shrink wrap when your wife is not home to do it. Might also gently warm an item before soldering it, whether such a thing would be beneficial I have no idea.
i have read numerous threads with posts referring to using hair driers. I guess that would be the benefit. Whatever that was. I was thinking battery wrapping, and a quick search says I was right, but it appears so much more can be done with hot air ATTEN AT858D+ SMD Hot Air Rework Station