I am using a cheap DC-K40III modified to Mach3 to cut paste stencils out of OHP TRANSPARENCY sheets.

The precision is good enough for all of my SMD boards so far. I have used this for the last few months for all of my SMD production, so my machine has already paid for itself.
There is an IMPORTANT TRICK to getting things cutting well. You MUST allow cooling time between each CUT to prevent problems.
I have achieved this by writing software to order the cuts so no consecutive cuts are within 10mm of each other.
I will make the TAP FILE software tool I created for stencil cutting available for download on my software page.
Another important trick is to apply around minus 4 thou offset to the paste mask layer BEFORE exporting it from PCB CAD to DXF to allow for beam width offset.
http://www.dockerty.co.nz/lasercutter.html