If you only want a device to tell you if a capacitor is faulty or not (as in you're fixing hardware), Bob Parker's esr meter will do the job just fine. BP's esr meter will just give you a value that's approximate but good enough to tell you the capacitor is bad.
If you want an all around accurate tool with lots of functions like measuring impedance, resistance, esr at various frequencies and other properties of capacitors, then you should go for that IET meter, or the Mastech or whatever LRC meter is the flavor of the day.
The point is that if you're on a budget and you want something just to fix electronics, those 150$ could be used for something else, like buying an isolated power supply or a good multimeter.
I personally have the ESR Micro, you can find a mini-review about it here:
http://www.dragonslairfans.com/smfor/index.php?topic=2651.0It works fine for me, I can determine what capacitors are bad or not, it gives a reasonably close value for capacitance... it just works.
If you want it, it would probably cost you around 50-70$ but the best way would be to contact the person making these directly on the badcaps.net forum, his name there is RusMike.
From time to time he has problems sourcing lcd displays or he waits for the pcbs or plastic cases to come from China so it's best to ask him directly if he has some available.