I have to admit I have a Harbor Freight 2 ton engine hoist. It has a few flaws (won't sit level when the arms are folded up) but works well enough.
For a stovebolt engine, be SURE you get an engine stand with 4 casters as opposed to just one on the front and two at the back. The long engine can make things pretty tippy. You can buy 1000 lb engine stands for under $100. Unless you're using it on a 900 lb 7.3L Powerstroke engine, I wouldn't worry. I bought a NAPA 1500 lb stand and GINGERLY set the 7.3L on it. But the generic engine stands will work fine as long as you get the 4 wheel variety.
