I have had capacitance on many meters, never used it, did one time look and it needed a 10 volt 50 Hz transformer output to work so gave up. Frequency yes used a few time to set generator speed very handy, but with electronics the frequency tended to be too high for the meter to work with. As to led meters with electronics that has reminded me mine must still be some where at my mothers, dad used it to fault find on the organ. High, low, and pulse LED's are handy you really need a three lead meter to test electronics so single probe can show both high and low.
I have used cheap meters for years and yes with analogue there was a problem with needles getting stuck specially with plastic instead of glass and the old AVO Mk8 was far better. However when we moved to digital that problem evaporated and some of the expensive meters have turned out not as good as cheap ones. I was issued an AVO Auto-electricians meter what a load of rubbish even if it was rather expensive. Idea was it used more current with voltage measurements so less likely to give wrong readings. However 14/0.044 cable feeding a PMR radio it showed as taking 300 amp on transmit. I had to get my own cheap meter to measure the current it clearly had an EMC problem.
While living in Hong Kong I bought a clamp-on meter which has been my main tool ever since. Measures AC only current, AC and DC volts, Ohms, thresh-hold voltage on diode check, and frequency. I was cheap around 500 HK$ and it has done very well. Not a Sham Shui Po special it was bought from a standard shop, and is by far the best multi-meter I have including my AVO Mk8. I did however buy new leads for it.
The old leads have been retained for electronic use.
But for testing dead I still used the Martindale 4 neon tester. I used a 1.2 Ah lead acid battery connected to a 120 W inverter as a proving unit. Yes I know it is 230 volt not 50 volt but so are many of the commercial proving units. I will however admit I would not buy a Martindale tester I only use it because it was issued to me.
I have had Fluke meters issued and I have used expensive meters, but really no better than the cheap ones. Where one wants to quote the readings the meter needs calibrating and this is the real difference between expensive and cheap. The Fluke can be calibrated and you can get certificates to show it is calibrated, so to my mind if you need a calibrated meter then yes buy Fluke other wise really a waste of money.
I will say Fluke meters do seem not to be affected by RF unlike AVO digital meters. I still use an AVO pat tester, and the Mk8 and can't even remember make of 17th Edition testers.