I bought the 1-ton folding hoist from Harbor Freight a few weeks back on sale for $89. Here's a link to the coupon:
http://www.harborfreightusa.com/usa/common/displayPage.do?pageFile=magurl1.html
If you have a store near you, you'll save a lot in shipping costs. The stores will honor the on-line coupons if you print them off and and bring them in.
My impression of the hoist was positive -- welds look good, hardware was of good quality (and it was all there), everything went together properly. Used it to pull the four-cylinder engine and transmission out of my 1959 Triumph TR3 and it worked perfectly.
Note the one-ton rating is with the arm extended the least amount -- the rating drops 25% each hole the arm is extended (about 6 to 8"), so when it's extended the farthest the rating is 1/4 ton, or 500 lbs.
When folded up, the footprint is about 3' wide by 2' deep.