I'm a cheapskate too, but I have noticed that if I don't religiously sharpen and re-sharpen or change out the Rat-L-Trap hooks I lose too many fish. I haven't bought any of the Lucky-Craft LV's, but I did find one and it worked just as well as a Rat-L-Trap once I changed the rusty hooks. However, it didn't work any better than my Rat-L-Traps, up until I too lost it. If I had dropped $15 on the bait I would have been P/Oed, as it was I was out 2 owner trebles.
I agree 100% on the Pointers and Staysees.
Tight lines,
Wade