Dave,
I guess "a lot of money" is relative. About $70 on sale at Woodcraft seemed like a good deal to me. I use this vise mainly to hold gunstocks for inletting, shaping, carving, etc. and holding pieces for engraving. The ability to hold the work at odd angles and rotate it as needed works well for me, but it ain't designed for beating on. I have a Columbian on the other bench and a big ol' old post vise out by the anvil when something needs whacking.
Ron