No, I don't believe the Polycharge charger has a built in balancer (looking at the photos and manual).

I'd go with the [link=http://www.hobbycity.com/hobbyking/store/uh_viewItem.asp?idProduct=7028&Product_Name=Turnig y_Accucel-6_50W_5A_Balancer/Charger]Accucell-6[/link] from HobbyCity. It has a built-in balancer, and with an adapter cable, you can charge/balance two 3S packs on one charger simultaneously.

I've got two of them, and can charge/balance four packs simultaneously. I think they are on sale now for $30 each, normally $40 each. These chargers can also charge NiMH, NiCd, and lead-acid batteries.