ORIGINAL: gaRCfield
This brings up the question though of what is considered to be wildly out of balance?
If one blade just sort of lazily falls I figure it isn't too bad. If I am in the mood, I may go ahead and make it perfect but otherwise it's not far enough to worry about in my opinion. That's for general sport flying of course. If I were racing or doing precision aerobatics, every prop would be unquestionably perfect.
I just bolted a brand new 11x6 APC prop on my GP Cherokee and you know how I balanced it? I held it on the tip of my index finger and it seemed to stay there without leaning one way or the other so I figure it's OK.
If one blade continually drops immediately though, then I consider that pretty far out of balance and I try to correct it. If it takes too much work to get it right though I get a little suspicious of that particular prop. I'd rather toss it in the trash than take a chance.
The Master Airscrew props are good for beginners since they will take a lot of abuse. Once you're confident that you won't have too many prop strikes though, try an APC or other high performance prop. The same diameter and pitch will often provide a very noticeable improvement.