Well I'm using beeline right now. It's way better than a lighter. A 200 ft spool lasts like 8+ months. And it makes a bic lighter last like 2 and a half months. I have a torch that I fill up with butane, and a can costs $5. Lasts 4 or 5 months. So all in all a year of lighting costs like less than $30 for me.
The appeal of the herb iron is that roasted goodness that you get with glass rods, but a very fast cool down and heat up. I was looking at glass rods but I'm thinking this is the superior product as your far less likely to burn yourself with it. Also it seems it would be better to stir at the same time, which is something you cant do with a glass rod.