Abstract: A downhole tool, for selectively reaming a wellbore or stabilizing drill string components within a wellbore, includes an elongate tool body adapted to receive reamer cartridges or stabilizer cartridges depending on the function desired, The reamer cartridges are radially insertable into corresponding pockets in the tool body, with each reamer cartridge having a reamer insert with an array of cutting elements. The reamer insert is disposed within a bushing and is rotatable relative thereto, about a rotational axis transverse to the longitudinal axis of the tool. However, the rotational axis is offset from the tool body axis, resulting in eccentric contact of the cutting elements with the wall of the wellbore, which in turn imparts rotation to the reamer insert when the tool is being moved axially through a wellbore without rotation.