If you want a good digital multimeter with lots of functions for working low-voltage electronics, on the cheap, this would be it. I own the UT71D model and it's very good indeed. Comes factory calibrated to its rated accuracy (that is very good), the leads are very good quality (and it matters) plus the included extras (like the USB interface and alligator clip leads that are hard to find in European Socialist Republic due to nanny regulations) sweeten the deal. The display is awesome and can show other data above the measured value (like Min/Max sample, logging information or measuring range) and there's also a bargraph.

The included software and USB connector allow you to log and play with data measured over time. The DMM also has onboard storage to save entries while not connected to the PC, and you can transfer saved entries to the onboard memory quickly afterwards.

The AC+DC True RMS capability allows you to measure voltages with arbitrary waveforms (chopped AC, square waves etc) and since it also does true RMS for DC (relatively hard to find function on multimeters) you can measure the RMS voltage of PWM power supplies (like mods). You can also see the duty cycle of the PWM signal as well as its frequency.

Other functions include Min/Max sample hold, Min/Max Peak measurement (higher measurement frequency for the peaks), microAmpere range for current and capacitor measurement.

The other models added today are the UT71D and UT71E. The UT71D adds a microVolt range measurement and a temperature measurement option with an included tiny contact probe. I've measured temperature coils with good repeatability. Functionally, the counts change from 20,000 to 40,000 (so the multimeter can show 3.9999V before changing range to one higher, instead of 1.9999V) the onboard logging memory extends from 100 samples to 9999 samples and can also a measure 4-20mA current loop (industrial analog signalling system) and show it as a percentage.

The UT71E adds a mains-level wattage measurement function but it includes cables with a Euro plug so it's of questionable utility to some people, and it reduces internal logging from 9999 entries to 100.

All in all the UT71A and the UT71D are very good deals. The UT71D adds some extras and the expanded capacity logging function I find very handful to verify that a LiIon charger terminates correctly, as I can log the voltage over time while I do other things. The logging on the UT71A stores only 100 samples and is more useful for manually storing samples pressing a button, or sampling at very infrequent intervals.

Martin Lorton has extensively reviewed the multimeter in a long two-parter.