I've cut a lot of perfect strips for swaps through Quiltville, plus have used my tumbler (the small one) to cut enough for a top. Have also cut a lot of 1/2 square triangles and squares from scraps. Mats look bad, but are still going strong.
Very little waste if you position fabric properly. For example, when I did the tumblers, I put a strip that was 3-5/8" wide on the die (blades are 3-1/2"). I'd have had at least that much waste if I was cutting using templates. And as far as that goes, I'd never have done it - no way I'd spend that kind of time cutting around a few hundred pieces!
I joined pinsandneedles, a Yahoo group, so buy my dies and mats through there. Always 30% off if you use a credit card, or 35% if you pay with a check. Great service!