Research: Ring Flash

I have been looking into ways to solve my lighting problem and think that I have decided that the ring flash is the way to go at this point in time. It provides beautiful, even, virtually-shadowless light and is used extensively in fashion photography. This one, made by AlienBees, is the one I am leaning toward as it self-contained or doesn't require a powerpack, and it is reasonably priced. It is also versatile as it can be handheld, mounted on a tripod with the camera or on a light stand for use off camera which can produce a different effect with the light.