I'm in the "Buy Quality" camp. I think a guy can do pretty well looking for some of the lesser known brand names, like Fowler for one. If you live in an industrial area, pawn shops can yield good deals, provided you know what to look for as far as wear and damage goes. I think it's a common question that isn't easily answered. Buying new obviously costs more, but you don't have the worries of old, worn out or damaged instruments. But then, in a home shop environment, you probably can get away with a little more than you can in a commercial shop. Some manufacturing facilities require all employee instruments to be in their calibration system and they can and will tell you to get rid of any instrument that fails to meet their standards. Even those instruments often are adequate for home shop use.
Basic requirements (IMO):
Carbide faces
0.0001 resolution (either analog vernier or digital)
Friction thimble, not ratchet (No offense, Ed
)
No engraving or grinding on the instrument to remove engraving
No hollow framed larger size micrometers
Standards required
Case if at all possible
There are other things, but I'm blank at the moment.
My brand preferences, in order, for OD micrometers:
Starrett
Mitutoyo
Brown & Sharp
Lufkin
Fowler
Sherr-Tumico
General
There are others, such as Craftsman, Etalon, Helios, various store brands that tool houses offer. Of course, this is just on OD micrometers. Depth and ID are a different story. And bore gages.....and, and, and....