Alright, my next project will require that I measure low power consumption of certain devices. This is commonly called "Phantom Power" or "Vampire Power". Now, I can't afford really expensive power analyzers, so a compromise has to be made.

Would something like this suffice:

http://www.powermeterstore.com/p3115/watts_up_pro_es.php

The thing I'm concerned about is accuracy here. Not sure how low of a wattage this will measure, but it comes with tracking software, which is perfect for what I need.

Any other solutions would be really appreciated before I get started.

 

At first I was going to say the price was way out of line compared to some of the others on the market but this appears to be far more an accurate and professional device, also includes PC connectivity.

Pop them off an e-mail to find out how low it will measure and still be accurate.

[EDIT:] Right there in the specs:
Accuracy: +/- 3% (loads above 10 watts), +/-5% (loads below 10 watts)