I'd recommend that you buy just the 16" laser level without the tripod and other stuff. The price on electronic tools like this is going down and even a simple laser level is going to do all that you need.
I have this laser level kit:
It's cheap. I'm guessing $39.99. I didn't buy it, I won it as a prize in a "Nicest guy" contest.
And, after 10 years, I have yet to use the tripod. All I've ever used is the laser level itself. It's seldom that I use the laser, but when I do need it, nothing else works quite as well.
By all means, buy a laser level. But take it from experience that you really don't need to spend a lot of money. A $20 laser level is really all most people need, and the extra money you spend beyond that could be used for more important things... like a pair of real cool fuzzy dice to hang from the rear view mirror of your car... or maybe some plastic pink flamingos for your front yard... or a Sam Cook record album.