Actually, all you need in addition to the BFD is a set of test tones and a Sound Pressure Level meter such as the one from Radio Shack. It takes some patience and manually inputting the filters. Usually, if you post your frequency graph, or the numbers, on a forum where some members have experience setting up a BFD they will offer suggestions on filter settings.Once you start setting filters with the BFD it becomes pretty simple to figure out. you can usually find these used for around $75.

If you have deep pockets and desire the ease of use of the Velodyne SMS-1 go for it!