Can You Build a Fiber Test Kit On a Budget?

An anonymous reader writes "Have any Slashdot readers hacked together cheap test kits for fiber optic cable? More and more IT infrastructure is using multimode and single mode fiber optic cabling. Commercial test equipment is extremely expensive, running the gamut from a few hundred dollars for a basic light source, to tens of thousands for an OTDR. What equipment do you consider essential to your fiber kit? Is there a way to save costs when it comes to fiber test equipment? It is worth it to do so?"