I have seen devices like the Kill-A-Watt before.
http://tinyurl.com/436sw
For home use or for limited testing in the office, they will do the basic job.
If you want to go low cost, all you need is the Extech AC line splitter and an AC current transformer to connect to a standard DMM. Measure the voltage, check the current, calculate the wattage.
The advantage that more sophisticated devices give over the simple method is that they can monitor over a period of time and give you cumulative and average power figures.
The only real concern I have with the Kill-A-Watt is that it looks like it covers the second outlet of a duplex receptacle. It also might be a challenge to hook it up safely in a cube or similar office setting.
Chas