You don't need to spend nearly that much money unless you're a pro and going to be using it all the time. I use a powerbuilt half inch that I got from Checker for $40. It has been benchmarked to be very accurate (I got it because of an article in Grassroots Motorsports magazine.) and checker offers a lifetime over the counter replacement warranty.
Looks like they've even lowered their price on it.
http://www.partsamerica.com/ProductD...egoryCode=3418