I have a 18" level that projects either a spot or a beam of light and the Black and Decker laser stud finder. It self levels so you just hang it on a pin and turn it on. The 18" level is also nice to beam where you think your conduit run needs to go. It will show if any obstructions are in the way.
Keep an eye on the stated accuracy, the new Laser-trac from Sears states 1/4" in 30 foot.