I dont remember the cost on my dowel maker.I bought it years ago and at first I didnt like it.I used the 1/2" stock in it like they said and it was work to run those through.I added the board and guides and finally put it on the shelf.A while back I just decided to try a 3/8" stock in it and WOW!!! Big difference! Much much better.One other thing I have learned is to use wood that is fine grained.Thick grain wood like pine will tend to not cut good.By that I am meaning a dowel thats not good strait.Thick grained woods can give you some snakey looking shafts.I just went to Lee Valley and looked and yes that is the $40 one.