Just like anything fly fishing related, everybody's got their own preferences and opinions of vises. Renzetti, Dyna King, Norvise, J-Vise, Regal, Peak, HMH, Griffin...I could go on and on. Most everyone swears by the vise they have for the various reasons. Price, rotary, simplicity, weight, etc. I personally know guys who have all of the above sans the J-Vise and they all swear by them.
If you have a local fly shop and can check them out in person, I would strongly encourage you to do that. Maybe a local fishing/tying group, or another forum member can show you what they have and let you give it a shot. What might be recommended by one person may not be what you like to tie with.
If you go the cheap vise route and then stick with it, as MP mentioned, you WILL at some point upgrade. Once your tying ability gets to a certain point, it will be time to upgrade. I did this. I got a cheap fly tying kit as a Christmas gift, stuck with tying and upgraded vises. I did find though that the materials in the kit sucked and I ended up replacing those materials with quality stuff nearly immediately. Tools included. If you go this route and wind up not sticking with it, it's a tougher sell vs. if you go the route of buying something of quality you can typically sell it much easier. Rotary is a nice feature to have, but is not something I take advantage of with mine as much as others do. Still, when I DO need it, it's there and I'm glad I've got that feature.
This is a solid read if you are looking for a vise, just keep in mind that it's a few years old and there may be other options out there now.
Fly Tying Vises In-Depth Review by Fly Fish Ohio!
Also, go to Youtube and search for some of the various manufacturers vise reviews.
Good luck and enjoy the hunt. Let us know what you end up with.