I'm a cheap O. I bought a greyling at Dick's sporting for $29.
I second that motion. I have been fletching arrows for 6 years on my Greyling and it still works great. I have fletched 3 and 4 vane arrows with Arizona Fletches, Quick Spins and a few fethers for my Dad.
With today's new glues, I can fletch an arrow in about 5 minutes and be on to the next one. My buddy has a Bitz and it is a very nice piece of equipment, but of course he paid a lot more for his than I did mine.