I have used and calibrated meters from analog VOM, to the most precision lab equipment for decades. That said, I would say that Fluke is a great value for handheld meters, and HP is great for bench lab meters. Some years ago, a new HP model came out and our lab purchased one.
I kept that meter powered up 24/7 for over 5 years straight and monitored its accuracy daily. It varied no more than a couple parts per million! Very reliable. That said, most people would not know the significance of all those extra digits for their purposes and frankly don't need them.
If one is just checking 12Vdc vehicle systems or household ac, then an inexpensive 3.5 digit meter is fine. I like Fluke for hand held meters and HP for benchtop meters, but I would have no problem using an Extech for that purpose. A wall mart meter would be fine for an inexperienced user or occasional and casual use or just for your emergency tool box. As others have said, if you make a mistake and damage it, not much lost.
But, if you need to use one a lot and get experienced with its use, I would stick with a Fluke or Extech. If you need higher precision or accuracy, know the difference, and can benefit from the better measurements, I would recommend a properly specified Fluke or HP meter.
