If I were going to buy that then I would definitely take Jim's recommendation and buy the SMS-1.
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By the time you buy the Behringer unit, buy the flat response testing microphone, deal with external sound cards, then preamps(yes Nick, you're going to need a preamp), then cables, cable adapters, then trips to buy this stuff....you're just not that far apart from the actual dollars of a SMS-1(when purchased at the lower end of its price range).
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That might be a little dramatic and exaggerated.
There are definitely a couple of choices here... and it boils down to how much you want to spend and what learning curves you are willing to conquer.
The least expensive route is less than $150, considerably less than any price you'll find for the SMS-1... and no need to make any trips anywhere... have it all delivered to your doorstep.
You don't actually have to have a mic preamp if you already have a Radio Shack SPL meter. If you don't have one, you can order one from
SVSound for $44.
You can get the DSP1124P from the
Shack Store for as little as $80 used / $88 new.
The USB external sound card that most are using (including myself) is the Creative Sound Blaster MP3+ and you can get it straight from

Creative for $10.
You may have some of the cables you need lying around, but it you have to buy all of them, you should still spend less than $20. You can order all of your cables and adapters from Part-Express.
If you wanted a better quality SPL meter you could up the ante to
$99 for the Galaxy CM-140 from Musicians Friend... but it not absolutely necessary to spend that much. If you did you'd still come in at less than $225 or so.
If you choose the inexpensive route... you'll have to learn how to use the BFD and REW, which is more difficult for some than others... which is of course one reason we have the forum to help...
