Have you thought about getting 2 DMMs?
Then you can get the UT61E and another which is safe for mains eg Daves BM235
It is a good idea to have multiple meters, eg check strange readings with 2nd meter
Yes, that's certainly an option. Or a good and safety-approved "voltage tester" for the simple AC household voltage stuff (checking if a connection is live or not).
I do prefer having "all in one" type devices though (gear tends to pile up), so a multimeter with all the features I need including good safety specs would be ideal.
I had a look at Amprobe's offerings (AM-510, 520, 530, 540 etc.) again (from what I've heard they're the budget alternatives from Fluke) as I expect them to at least meet safety standards, but from what I've read in these forums they're a mixed bag, so I really don't know.
The big question is what kind of features am I looking for?
I'm not a very advanced electronics hobbyist ("intermediate" i would say) and besides the usual voltage/current/resistance/capacitance I need a good, responsive continuity tester, the ability to test LEDs and a frequency counter (not sure about the range though, but for audio and some digital electronics). It doesn't have to be super accurate (as in a voltage reading of e.g. 1.203785198 V), but hopefully not something that drifts too much within a year or too (I hear calibration is pretty expensive, not worth it for meters in this price range) and built well (I prefer paying a bit more for something that lasts than going for bargain basement stuff, but then again not pay a whole lot for features I don't need).