I just picked up an inexpensive Sinometer MS8222H multimeter
that can measure inductance and capacitance.
To test it out, I used it to measure a few different inductors and capacitors that I had purchased for some Econowave SR Compact speakers that I bought parts for but never built (I ended up building a pair of Econowave SRs instead).
The results were pretty close the nominal values for each of the parts. For instance, I measured an 8.2uF cap and got 8.09uF, which is well within the 5% tolerance listed on the capacitor. This is by no means a real calibration test, but the meter seems to at least be in the ballpark for these components.
I picked this meter over the MS8269
because the MS8222H had a 2mH range and it seems like a lot of the inductors used for building speakers are <2mH (20mH the smallest range on the MS8269). However, I didn't notice before my ordering that the MS8222H only measures capacitance up to 20uF, where the MS8269 measures up to 200uF. If you want one meter, it might be smarter to go for the MS8269 since you can measure up to 200uF and the 20mH range is probably still usable for measuring small-value inductors.
I know that there are other methods to measure capacitors and inductors with a normal VOM, but I'm a sucker for convenience. And bargains.
If you want an inexpensive LCR meter, one of these meters might interest you.