Haven't heard of the PAL, but have heard of using a laser level square from the hardware store to help align quilt edges. Here's a link to a tutorial on using one to block a quilt:
http://www.dreamweavers-quilts.com/q...hort-tutorial/
If it's the same as the PAL, my bet is the same thing will be cheaper at the hardware store. As soon as something becomes specialized for quilting, the price seems to go up!
Edit: Ooops! Looks like auntpiggy is correct. The Youtube video shows it is definitely for embroidery.