Newegg has the AC Delco ARM601-3 3/8" Digital Torque Wrench for $98 with free shipping. Features torque, measurement, and mode settings, buzzer audible torque confirmation, and anti-slip soft grip.
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It's a shame it costs the price of a new wrench to get the calibration tested.
so you dont overtighten your nuts
Measured Torque Range 2-37 ft-lb.
A wrench of this type is needed to properly assemble most newer engines - many have low torque values for cast and aluminum components. My main drawback with this one is that it is made in China.
I needed a torque wrench to do a brake job and bought a 1/2" model at Harbor Freight for $9.99 (sale). I checked the calibration at a local garage and it was remarkably accurate. Of course, perhaps I just got one that happened to be accurate. I also found that the dealer that serviced my top of the line Japanese luxury car had grossly over-torqued the lug nuts. I weigh 170 and had to jump on the end of a 3' breaker bar to loosen them. They had likely done that to warp my rotors and make business for themselves. So, be warned. Always recheck your lug nuts yourself.
DEguy: my dad, brother and I all have the 1/2" Harbor Freight torque ratchets. They all tested pretty spot on when we got them years ago. Now, however, they're WAY off. That's not to say they're more off than a pricey Snap-On (or other high-dollar, professional-grade counterpart), but can these cheapo Harbor Freight models even be calibrated? For $10, I'm inclined to buy one every time I do a brake job on my BMWs (35k miles at least between jobs), but not my winter commuter Saturn.
If DEguy's mechanic is in a Toyota/Lexus dealership, I would't doubt the story for a second.
#6 When not in use make sure your backing off the setting to zero so the spring doesn't loose it's strength! If it's left in the drawer cranked up yes it will loose strength over time! Springs as a rule are +/- 10% of their rating (and the ones made in China are probably worse) so not sure how they calibrate them in a mass production Chinese factory! That said I do have a 3/8 inlb Harbor Freight one that seems to work well enough. Usually you are given a torque range so if you shoot for the middle you are more likely to actually end up in the range. Here's a little something on torque wrench accuracies although they don't mention brands http://home.jtan.com/~joe/KIAT/kia3htm. Beam type torque wrenches are generally considered more accurate depending on the quality of the manufacturer.
Few auto repairs actually need a torque wrench, consider this when deciding how much of a premium to pay for an always accurate tool. Yes they often spec the torque, mostly because you never know who is holding the wrench.