Red:

I own the Master and the Traveler.

Besides being NON-handed with better standard jaws that hold a wider range of hook sizes and use a spring rather than an O-ring; the Master boasts a sturdier & heavier base in the pedestal version, a heavier stainless steel shaft that can be fitted with extensions, ball bearing rotation, a better rotation friction adjustment, a better main shaft adjustment system, a rotary ratchet and totally adjustable rotary function, an adjustable arm angle for infinitesimal adjustment of the hook axis, a swing away material clip, a reversible jaw adjustment screw, brass fittings, a heavier all around build and probably a few other things I am forgetting.

In addition to those standard features, the Master accepts all of the accessories Renzetti offers.

Whether those additional features are worth it is up to you, but IMHO there is a HUGE difference between the two products that make it worth it to me to own both. I use the Master at home and the Traveler is used for what the name implies.