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I have a cheap $35 trueing stand, it works well, other then the fork has no adjustment, insted it's slightly springy you need to use the skewer or axle nuts to hold the wheel in place otherwise it slowly wiggles out, but it's light and compact folding almost flat so I have it mounted on a small piece of plywood and hang it on the wall, if I didn't have it then I would either get one of the dial indicator holders that clamps on to a standard fork, or do what I did befor and head down to the bike shop and use their stand, doing it that way is cheap and leaves my shop less cluttered.
I've personaly built 4 wheels, and re-spoked a few as well, my last one was a 700c rim on a 3 speed hub and bolt that on to a racing frame, but mostly I use it for when I get a bike from the dump that has a broken spoke I can replace the spoke and true the wheel, once you get the hang of it it's pretty easy, taking 15 minutes or so, building a whole wheel can take a few hours, it's pretty easy as long as you have a decent attention span for repitition.
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