The $20 Harbor Freight click-release torque wrench is more than adequate for any home mechanic. The accuracy is supposed to be +/- 3 percent, I think. If you read the specs in most repair books, the range of acceptable torque is usually wider than that. What you want a torque wrench for, typically, isn't so much to tighten one nut or bolt to EXACTLY a specified value, but to ensure that all the like fasteners in a set are tightened to the same value. The $20 HF wrench will do that just fine.
One caveat, though -- the $20 HF torque wrenches only go to 150 foot-pounds. That's good for most things the average home mechanic will encounter. If you work on trucks or conventional axles and differentials, though, you'll find that pinion nuts typically need to be cranked to around 240 foot-pounds. Before buying, assess what range you really need.