I guess I don't get hung up on meters...I figure since they all have variability, all I need to see is baseline of my junk. If it reads 20 vs 25 watts between a peak reading meter and a real peak reading meter, I don't really care as long as it reads the same output consistently on my meter, which indicates the radio is working correctly.
I have a Dosy TR-1000 that's currently MIA, it does the job...it reads a little happy for my liking. I have a new Radio Shack SWR/Power that I just bought, it works fine. I have an Aries A460 in my daily driver, it reads the lowest of the three (but it also is a "powered" meter, unlike my Dosy and RS). I don't think any of these are actually "peak reading meters".
As was noted previously, the RS is a pretty decent meter for the $$. I just bought this one on sale for $37, and it replicated the readings provided to me that were obtained from a o-scope. I was also told by a local, who owned both a Bird and RS meter, that there was very little difference in PEP readings between the two, and he preferred using the RS since it was a cheap loss if it was ever broken.