Technically weight based grinding is superior because if you are changing different beans you will always get "X" amount. Grind timing varies between different beans. So if your grinding 2 different beans with the same time you will get more yield in 1 bean over the other.
The extra $100 is more like a convenience factor if you're really lazy.
Other factors that affect timing: humidity, when the bean was roasted, what kind of roast, what kind of bean, size of bean.
Weight based is superior though. Personally I don't mind a timer though. Its fine as long as you don't try a different coffee every week

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Bottom line: if your sticking with 1 bean get timer; if your planning to experiment get the weight based version.