I just cranked and broke in my engine on a homemade set-up. Cheap $35 engine cradle (northern tool), set of cheap gauges (triple set) I had in the shop, toggle switch for ignition, toggle for elec fans, momentary for starter, Rad out of my truck with fans attached, Battery, a little wire, and gas can for fuel. Total cost was about $100, given I had most of the stuff laying around. Granted, it's not the professional looking set-up at all. But it sure works like a champ. Now I need to rig up some mufflers cause that thing is LOUD in the shop uncapped.
Built the same set-up for my BIL a few months ago for his f**d engine. It was a bit more of a challenge cause we needed the bell housing so we could mount the starter, so a few mods to the cradle had to be done. End result was the same tho, it worked like a champ too.