There are many variations of the No Dog level around.

Right now I have the Maxis Speed Set http://www.maxistools.com/product/speedset/
I don't really like it that much because the bubble is longer than the lines in the level. It is probably because air leaked into the vial.

No Dog is at http://www.no-dog.com/ I know that iwire has purchased these so maybe he can give his comments on this brand.

Greenlee makes one also. You can get it at ToolUp http://www.toolup.com/productInfo.asp?pid={954BAB99-C357-4266-AC95-4F7277BEED3F}

I think I will be getting a new one and I think it will be the Greenlee.
When you use one correctly, it does help with your bends.
I don’t think it matters if the bender is level, just that it is in the same position for both bends. The level makes sure that you rotated the pipe 180 degrees.