Ron,
You are absolutely correct. If looking for a cost effective solution for an autopilot you can't go wrong with any of the wheel mounted units. I currently have a fully functioning Simrad WP30 wheel mounted unit that uses a gear in lieu of the belt and it works great holding a fairly consistent and steady course.
My decision to go with a more advanced autopilot was based on a few requirements I have that aren't provided by the CPT or other wheel mounted pilots.
1) The EV100 and newer units utilize a 9 axis heading sensor that measures not only heading but also pitch, yaw, and roll. The control unit takes all this information and processes it using a learning algorithm which automatically matches drive response to the characteristics of the boat and the current conditions. This is much more sophisticated than manually adjusting sea state and gain. Combined with a variable response linear drive you get a more accurate course which for me doing singlehanded racing is a big plus. Certainly not needed for cruising but it will keep me on a level playing field with the other boats I sail against which already have this technology.
2) Integration with other electronics and remote operation was also something I wanted. With the EV100 I'll have multiple ways of adjusting the course heading from anywhere in the boat. My chartplotter at the helm, the control head on the forward cockpit bulkhead, and the remote (which came free with the unit) will allow me to make adjustments no matter where I'm sitting or standing. While racing I can easily make small course adjustments when a windshift occurs without going to the helm station.
3) Finally, I was interested in eliminating the noise from the motor by having it below decks where I can't hear it. Having sailed on other boats with the EV100 I was really surprised at how quiet it is.
The EV100 will end up being about $1,000-$1,500 more than the CPT after shipping, mounting brackets, etc. Included in that additional cost is the extra control head and remote. For me this was worth the extra cost but I can understand that many will not want or use those features.
Regards,
Greg Doyal
NS30U #516 Challenge
Grosse Pointe, MI