Just to clear up a bit, they are both regulators, both designed to regulate and measure the flow of the shielding gas, just two different design principals.
For most mig work a flowgauge (two round dials) is more than adequate. A tip is to set it with the trigger depressed in the "flow" position, that way you are reading dynamic pressure vs just static pressure of the gas.
As for a recommendation on a particular unit. You can get any of the big names for right under $100. Smith, Victor, Harris are all good lifetime units with care.