Most guys (home smiths, small shops) like the New Hermes engravers. If you look around they can be had for a $300-$1000 hopefully with a set or two of font. They're set up with either a diamond scratch stylus or a motorized engraving head. I ended up buying a Famco P1-2 pantograph engraver/milling machine and after using both I prefer the Famco. It's basically a small milling machine with a pantograph set-up on top. They can go anywhere from $500 on up to $1500 or more, but you might find a really good deal on one somewhere. All I use mine for is engraving caliber and maker information on the barrel shank, and it does a very good job of it.