Here's a test of several brands of chronographs conducted on another site:
We tested all the major brands.
1. Shooting Chrony -- Narrow sweet spot. Controls are confusing -- multiple pushes of same button required. Some units are very fussy as to light conditions. No IR option. Good Battery life.
2. PACT -- IR option doesn't work very well. Too many buttons on keypad. Thermo printer burns batteries quickly. We had to send one unit back. Having printer is nice, but overall, battery life is big issue.
3. Oehler 35P. Big, heavy with proof channel. Base unit very simple to use and very reliable. Sensors have proper lenses so the beam is focused, giving bigger sweet spot. Paper is very hard to feed when you run out. Battery life is pretty good considering it has a printer.
4. CED -- Small, light keypad. Nice big display. Keypad is pretty intuitive. Hinged sensor mounting bar is clever, compact when stored, but you have to be careful to slip the sensor bases on securely. IR option works good, IF you have the plugs seated tightly.
5. PVM-21 -- Once assembled (like a box kite), it is very fast, easy to set up. IR emitters work fantastic -- it will register lead pellets in complete darkness. AC adapter is funky. Unit works better with 12V battery but that has to be carried separately. Very reliable unit if you just use the white receiver box, but then you have to write down the results. Software is cranky to install and Not at all intuitive. Most guys using PVMs have given up on using with a lap-top. Unit desperately needs a better (less buggy and simpler) software interface, and it should be converted to run 5.5 volts so you could power from your laptop.
What would I buy? CED for entry level. Oehler if you have the money. PVM-21 if you shoot in low-light. PVM is excellent, but the computer interface is "not ready for prime time" and far too complex for most users. We had issues just installing the software on laptops -- you have to fiddle around to get the drivers to "take". If PVM would plug directly into USB port (like a printer) with clean software, it would be my choice for field assignments.
I have a CED M2 with the infra-red option. I'm quite satisfied with it except that, Like other optical chronographs, set up is a PITA, particularly when the range is busy. I just bought a Magnetospeed for those situations and I'm very happy with its reliability. I intend to compare it to my CED M2 IR and a friend's Oehler P35 this Spring.