The low aspect ratio tokamak or spherical torus (ST) approach offers the two key elements needed to enable magnetic confinement fusion to make the transition from a government-funded research program to the commercial marketplace: a low cost, low power, small size market entry vehicle and a strong economy of scale in larger devices. Within the ST concept, a very small device (A = 1.4, major radius about 1 m, similar size to the DIII-D tokamak) could be built that would produce ~800 MW thermal, 250 MW net electric, and would have a gain, defined as QPLANT = (gross electric power/recirculating power), of about 2. Such a device would have all the operating systems and features of a power plant and would therefore be acceptable as a pilot plant, even though the cost of electricity would not be competitive. The ratio of fusion power to copper TF coil dissipation rises quickly with device size (like R4) and can lead to 3 GW thermal power plants with QPLANT = 4-5 but which remain a factor 3 smaller than superconducting tokamak power plants. Power plants of the scale of ITER might be able to burn the advanced fuel D-He3.