I'll put in a vote for my favorite DMM, the Fluke 289. Now, it's not cheap, about $600-700 for a new unit, but it's a very powerful tool with some features that come in very handy when working with batteries and electronics generally. Most notably, this meter is also a single-channel data logger, but other nice features include a high quality capacitance meter, 10A continuous current reading capability, a high-resolution low Ohms range--a must for chasing down short circuits in electronics and very precise measurements of very small resistances in your power transmission path. There's also a thermocouple that comes with for temperature measurements, very handy for testing pack thermal management.
Make sure you get the IR to USB cable for dumping data onto your PC--it's an option, I believe. You can look at data on the 289's monitor, but to get the most out of this you'll want to export your data. For example, you can export into a CSV file to do some very handy things in Excel--like run an accurate capacity test with nothing but a power supply, an appropriate load resistor and this meter. There's also a software package called Fluke View Forms that includes some nice tools for generating reports and so on. If you can swing the money and have the skills to actually use such features it's a very worthwhile purchase IMO.
[Edit: That's 289, not 298. D'Oh!]
dh