Can't help you Jeff.  I've never owned one.  As I recall, a few folks have commented saying that they've had the expensive ones and that the cheap one they picked up here or there has come up with the same numbers any time they've compared them.  I always wonder how deep they really measure.  Not sure they can measure more than a few inches beyond the surface.  I just don't know.

Some times the cheap one reads correctly some times they don't.

A cheap moisture meter do not read very deep, only as deep as the pins go in.

Where a top of the line meter may read a couple of inches deep. I was taking a reading on a 2" slab with a friend's Exotech pin/pinless meter and I passed my hand under the wood and the read out changed.

Another thing I failed to mention.

When taking a moisture reading you need to consider the ambient temperature and humidity. Most meters (even the cheap ones) will have a formula you can use to determine the actual Relative Moisture Content (RMC) of the wood.

Lets face it, many of us know we need to do this, but how many of us really take the time to do the math? This is why cheap meters get a bad rap for inaccurate results

This is where the expensive units come in handy because the better ones will take temperature and humidity readings when testing the moisture content of the wood and give an accurate RMC. You'll find these meters are priced above $600.00

IMO, unless you are doing turnings for furniture, a person doesn't need a moisture meter for woodturning. To find out if the wood is ready to turn, just place it on your cheek, if it feels cool its to damp, if it feels like room temperature its ready to turn.

Great question, Jeff.  This is a good informative thread.  To carry it a bit further, what moisture levels are best for final turnings?

Thanks!

Sorry if I gave the impression a person shouldn't get one. I have thought about buying one myself. I just have no idea what one costs and how well it would work. I have a lot of wet wood and it would be nice to know when it's dry instead of just guessing.
If you get one and you like it please let is know.

I have a Delmhorst J lite and use it.  It was about $75 on the bay. Yes, the pin are only about ½” long but the material is never much over an inch thick; usually less.
Here is a link for equilibrium by city.  Scroll past the formulas to about page 4.
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For my area it varies between 11.4 and 13.8 (normally on the higher end) so anything below 15 I consider good-to-go.

Ron, I think Richard’s question was final, not finial. As in Coming at the end; conclusive; last, or re-turning. 

From the chart it looks like local dry would be somewhere between the lowest/highest monthly EMC's.  Bishop, CA at 3.6% up to  Mt. Washington, NH at 20.3%.