I own and use both a Motive pressure bleeder, as well as the $19.95 HF vacuum bleeder.  They both can do the job, but I LOVE my pressure bleeder.  The vacuum tool kinda sucks....hehe... 
 I do my late model vehicles (Vanagon Westy!) with the pressure one, but the pressure cap won't fit to the '62 bug reservoir, so I used the vacuum one for that job.  I had to remove the bleeder screws, grease the threads to prevent air leaking past the threads, and it took forever pumping, emptying the little cup and many trips around each of the 4 bleeders to finally get a rock-hard brake pedal.
  My pressure bleeder gets the job done in less that 1/4 of the time, with very little effort, mess and is definitely makes the entire job more gratifying.  

YMMV,

Mike B.
  ----- Original Message ----- 
  From: Zeitgeist 
  To: vanagon@GERRY.VANAGON.COM 
  Sent: Wednesday, March 11, 2009 9:28 PM
  Subject: Re: home made pressure bleeder

  My exact experiences, as well.

  On Wed, Mar 11, 2009 at 6:23 PM, Allan Streib <streib@cs.indiana.edu> wrote:

  > Bob Mac <yakandhike@COMCAST.NET> writes:
  >
  > > Has anybody tried the vacuum bleeder sold by harbor freight. It's only
  > > $19.95 and seems like a simple operation. No worry about blowing seals
  > > and everything is done right at the wheel, except filling the
  > > res. Just curious
  >
  > I have not tried that one but I have tried a Mity-Vac which is
  > essentially the same thing.  I found it did not work very well.  It
  > seemed to always suck air in around the threads of the bleed screws and
  > not really get the air our of the system.
  >
  > But, I've never had good luck bleeding brakes on any vehicle, and the
  > pressure bleeder is the only thing that's ever worked well for me.
  >
  > YMMV.
  >
  > Allan
  > --
  > 1991 Vanagon GL
  >

  --
  Casey
  '87 300TD
  '94 100CSQ Avant
  '89 Bluestar