I picked up one of the EZE eye pro laser center shot tools last winter and have been using it quite often as a good starting point for the tuning process. It can help tremendously for those that do not even know where to start when setting centershot. It also works fairly well at checking other straightness aspects of the bow's design but consider that a secondary function of the device.

As Len made reference to, there are other forms of laser tuning devices used to check cam alignment, string angle, limb torque, etc... but I have not seen them advertised much for the general consumer nor do I know what price range they are offered. I think they definitely would be a handy tool for those folks that are fascinated with the mechanics of the compound bow.