That's actually a pretty nice tool. I think mine is more of the $15 variety from 50 years ago. Any of them will work as long as you practice a little, its easy. Don't let anyone tell you a single flare is ok, make a double flare for brakes. if your old lines are in really good condition or if you need to make a quick get by flare use the existing stuff. The new NiCop stuff is great to use, wont rust and cheap.
Also, as I've said here before, don't forget to put the fitting on before making your flare, ask me how I know (x3).