I have both a Herpstat1 (older version), and a new Herpstat2 and I can't say enough good things about them. Very user freindly and well worth the cost.
I've heard of a user on here that had a fire and lost his collection. I have no idea whether it was because of his thermostat, but it just drives home a point that it's a potential risk, and not something to cheap out with.
Would you buy a cheap parachute?