The Best way is to purchase a real Graflex flash on eBay and convert it using a Yodahouse kit. The Master Replicas piece is an accurate piece and it is licensed which insures that it will keep it's value as a collectible over time. Jeff Parks makes a good replica but he had ripped off a member here and is not considered a good member in standing with most here. From time to time you will see replicas offered here on the Junkyard as well.
I highly doubt you'll find the Yodahouse kit available nowadays ... so for a real G R A F L E X project may I recommend the more accurate kit by http://wannawanga.com/products/luke-anh-complete-set/ ... Parks is indeed the next best thing for a replica flashgun and you can even ask for
a non converted one and then do the conversion yourself with the kit mentioned above
Blast-Tech is almost out of business ... he's only selling left-over bits and pieces if any ... and his T-track is rubber not hard extruded plastic as is Gino's and Roy's, which is more screen-accurate.
I held off on buying the MR until very late in the game, in the hopes that I would find a real graflex at a decent price. When I finally bit the bullet and purchased MR's New Hope version I was pleasantly surprised at the build quality. No floppy ears, no rattling parts and the saber has a real nice weight to it making it feel like a real saber. I agree that you can't beat the real thing, but I can attest that the MR is a beautiful alternative.