A Blinky balancer serves a useful purpose. It's blinking LEDs act as a visual monitor as to which cell has the most voltage and which less while balancing. Also, you can get an approximate idea of the amount of imbalance. For example with a 3S resting it takes approximately 5 minutes to adjust/correct 0.01v and as long as 20 minutes for an imblance of 0.04v

You may want to consider the merits of a Blinky balancer as well as a mAh/watt meter and a battery monitor.

http://www.astroflight.com/index.php...products_id=20

http://www.commonsenserc.com/product...roducts_id=184
(Click the play button below(in this link) to hear an audio discussion on Balancing.

http://www.astroflight.com/index.php...=index&cPath=2

http://www.headsuprc.com/servlet/the...ter-for/Detail