I have been eyeing up that lab radar for a while. Is it worth the money? From what I have seen they run about $500
Let your pocket book be your ultimate guide.
An inexpensive chronograph will give you velocity information but you will have to record and crunch the data by hand.
Add features or use new technologies and the cost goes up.
I'm not saying to buy low cost just because it is low cost, but if you are unsure of the value a chronograph will give you, a lower cost unit will provide you the velocity information and the knowledge to decide how a chronograph will help you.
If you find a chronograph is the greatest thing since sliced bread, upgrade and sell the old unit. If you find the information from a chronograph is only ho-hum, stick with the original unit and drag it out once in a while when you get curious about some ammunition.
I started with the Basic Chrony. I found that I liked getting the velocity information so when I shot the unit, I upgraded to the next level Chrony. Ditto for when I blasted the second Chrony, I upgraded to a Chrony that had a printer.
Something on the CED M2 piqued my interest and I bought it. It has a better interface with a computer for downloading the data and after buying the IR lights for the sensor, it got lots more reliable in sensing the bullets.
Next came the Magnetospeed, mine is a Version 2. No sensor down range was the interest here even though the V2 was not fully handgun capable. At the time, I was working mostly with rifles and the M2 would work fine for handguns. Mounting the sensor bayonet can be a bit of a pain when changing rifles.
Finally, the LabRadar hit the market. I like new gadgets. No sensor down range, no appendage on the barrel to affect accuracy testing while doing velocity testing, velocity data at various distances down range, easy interface with a computer via a .csv file. and some other features. I've been more likely to get out the LabRadar over the other chronographs that I have had because it is easier to set up and gets data more reliably. (Note, I have not experienced any of the issues that folks on the internet have reported. Maybe I'm just lucky but I do not use all the capability of the LabRadar either.)
All this transpired over a 25 to 30 year time frame.