Interactive toys like this are just fab' for encouraging development and learning.
Fine motor skills will be developed by picking up and controlling the hammer whilst bashing the light-up pegs; this also teaches cause and effect.
There are letters and numbers to be learned, along with lights, sounds and colours to enjoy and be explored.
Fisher Price aren't daft, they know that non-stop whistles, whizzing, buzzing and bells can drive us parents round the bend after a while, so they've added a 'quiet mode' to their Laugh and Learn Learning Workbench.
Whilst tracking down comparative prices for you (Play are selling it for £34.99 at the moment), I came across THIS VIDEO on YouTube which demonstrates the Laugh and Learn Learning Workbench features; it's quite nice to actually be able to see it in action I think.
The Fisher Price Laugh and Learn Learning Workbench is part of the Mothercare clearance sale, so once they're gone...they're gone.
Happy Laughing and Learning!