That Hudy set-up is for r/c car engines...that prop / shroud is only about 4-5" dia.

For airplane engines, I use an old Tatone adjustable alum. test mount (still available ) that is bolted to a piece of 3/4" ply.
I then c clamp it to a work-mate type bench. (I put a cement block across the lower part of the legs to keep it from tipping over @ WOT when running larger engines )


Edit: this is similar to what I have...but I use bolts instead of screws to attach it to the ply.

http://www3.towerhobbies.com/cgi-bin...&I=LXR588&P=ML

If ya wanna talk "cheap" ( uh.."inexpensive" ) just cut an engine sized notch in a hunk of plywood...1/2" (or more ) thick or a piece of 2x6 or whathaveyou...and bolt your engine to it. Just make sure it's good and secure! Rubber band a fuel tank to it and then c clamp it or deck screw it to a bench / picnic table / etc.