Andy,
Definitely go for the more expensive tile cutter. I went for the $20 tile cutter. I went through 3 or 4 blades quite quickly. About 6 months later, I broke the cutter in half, literally. It was a tile that was thicker than the others(one of the inconsistant floor tiles). The tile remained whole. The cutter did not. On my "wish" list is the more expensive tile cutter. A bit of advise, too: uh, it's a good idea to cut the tiles away from the tanks, preferrably in another room....(silly me

)
I have a clay cave for an Ancistrus(3)sp.tank(20 long): (1) male, (3) females. The male took possession of it quite quickly, even though he's a sub-adult. None of the females can get near it without being chased away. It seems like he's "playing" at the moment. But, his snout is getting bushier by the day.
Amanda