The 120volt version sells for about $57, the 240V version about $89, I think.
Doug, can you suggest a source/model for the Carlo Gavassi?
My only beef on the specs of the Magnecraft is that it isn't a "breaker" type. In order to set it up as a manual reset, you'd have to add a latching type relay and a momentary switch for reset. Alternately it could crow bar (short circuit) your circuit breaker via a (big) surplus solid state relay, which can handle surge loads better.
Yes, the low voltage relay drop out is easy to do via a variety of methods. One simple approach is using a DC relay, which means a transformer, diodes, then resistance, capacitance. By the time you add high voltage cutout (second relay, RC), fiddling with time delay (C) so your big surge loads don't trip it, one of these doesn't look bad, price wise. Depends on your time/$/junk box situation.