When Square D was bought by the French, the original "Wiggy" patent for the Wigginton Solenoid Voltage Tester that they owned had long ago expired, allowing other companies, like Knopp, to make them. In 2002 all voltage meters needed to have Cat. III ratings for safety and Groupe Schneider did not want to invest in redesigning something they didn't have exclusive rights to, so they killed it. But other companies did go ahead and get their Cat. III ratings. Knopp is one of them. So you can still buy a "Wiggy" in the generic sense of what we all call a Solenoid Voltage Tester, as long as you accept the fact that although built basically the same as the original Wigginton design, can no longer have his nickname emblazoned on the front. Schneider retained the copyright on that name even though they stopped making the product. They could technically sue Knopp if they used that word officially, but they can't sue us for using it in the field. I still call mine a Wiggy even though it's a Knopp version.
Release the hounds!
I love my DMM, and I use it more than anything else. But a real electrician needs to know how to test for all circumstances and there are numerous things out there that will give you false readings on a DMM, whereas a Wiggy will show you the truth. I probably get at least one call every month from someone in the field telling my something is "leaking" voltage because they are using a DMM and showing line voltage through an SCR or something. I have them connect a Wiggy and it reads zero.
With a good DMM you can use for a majority of testing out in the field. I do however, see your point about using a wiggy in certain scenarios.