QE: What equipment is there nowadays for balancing small parts?

Hello all :-)
What does one use now adays to balance small parts like; model airplane engines/propellers, the odd kitchen utensil and the likes?
I remember using a stroboscope for balancing a flywheel, back at school. It consisted of a capacitive pickup (guessing), a small amplifier, with some kind of trigger circuit, which fired a flashtube and, of course, the flash itself. A similar set-up would be a nice addition to the workshop, I think. But surely, the gear nowadays would be more fancy than the one I remember. What is there to be built or bought these days?
Ideas, tales of experience and links would be much appreciated.
Thanks all, Henrik Denmark
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