What are you wanting to do exactly? I know alot of guys around here use the grinder and say it works great, but you can order a small hand crank which is great to get started with for about $25.
This is a grinder I know a couple guys have around here, I think for long sustained grinds its a little small, but if you are doing 25 pound batches or so it should be all you would ever need. I do hundreds of pounds at a time during deer season, so I stepped it up for the more industrial versions, but they are the same size (#12) as this one, albeit with a little more power. This grinder, and the northern industrial grinders from Northern Tool are the same grinders gander mtn sells as their guide series rebranded. This one for $100 is a good investment IMO.
http://www.northerntool.com/shop/tools/product_36989_36989
Here is a simple hand crank, should last a lifetime if taken care of.
http://www.northerntool.com/shop/tools/product_22776_22776
If you are getting into sausage making.....you can be cheap and get a hand crank grinder and use that for alot of years, but one piece of equipment that I absolutely universally push is a sausage stuffer. Grinders can stuff yes, but the difference is mind boggeling. You can get a good stuffer for $100. Long story short if I had $150 to get into sausage stuffing, I would get a hand crank grinder, and a sausage stuffer.
http://www.northerntool.com/shop/tools/product_200308623_200308623
This one has nylon gears, which will work good if you don't bottom out the machine hard and crack them. This is the same machine sold by LEM (or use to be) except LEM has metal gears, and you can order replacement gears from them. I have this exact one....WORTH.ITS.WEIGHT.IN.GOLD!