I was thinking about buying one, but I'm not sure how much of an improvement it would be over the ColorpHast pH strips I have now. I know Kai's done some work showing that the strips aren't all that accurate, but I'm not sure if any of the meters in this price range are much better.
Oh, I'm glad I have one don't get me wrong. I've used it, and really had a chance to see what the pH does with my water, RO water, etc. Kai's spreadsheet is pretty accurate in predicting mash pH, but I mostly use Brunwater now (they seem to give me the same predictions).
I've also used it to check the pH of our garden soil, and will use it sometime to check the pH of my soaps. I'm sure I just got a lemon with the first two electrodes, but like I said even the other day it drifted right away after the first calibration. I think that it's far more accurate than the strips, plus easier to read. Colors are hard to see!