Great Question
I think what type of volt/ohm meter you use would depend on your skills. An under $10 meter with a needle style face versus digital can do most tests you need on a boat. Especially if all you want to know is a go or no go situation-is there voltage or no voltage (on the volt scale) or is there continuity or no continuity (on ohm scale). As your skills at trouble shooting and diagnosis improve, a more sophisticated digital meter would be better.The important thing to remember using a test meter is what readings should you expect and if you don't get that then where do you need to check next. What I'm getting at, I guess, is it's not so much the quality of the test meter as the knowledge of the person using it. Sometimes the best thing that comes with these meters is the instruction pamphlet on how to use them.Just my opinion, gained after 21years as an appliance repair tech.