Alan,
I suggested that the OP consider the Leigh Super FMT for $500 because it is much cheaper than the FMT Pro jig, yet Leigh claims that it has the same capabilities. It's at the upper limit of his budget, but it will do a much better job than the other suggestions that have been offered.
The Leigh FMT jigs do make very precise and repeatable joints. You can make a mortise and matching tenon that can be pushed together easily by hand, and the fit so good that the vacuum created by pulling them back apart will cause an audible pop. The fine adjustment for fit makes this possible. Once adjusted for a desired tightness of fit, you can make them all day long with this same fit. Other than a CNC mill, I know of no other M&T jig on the market that can do this repeatably right out of the jig. The Leigh jigs will do everything that Leigh says they will do. They don't over sell their jigs in their advertising by making wild claims that are only possible under perfect conditions, as many other manufacturers frequently do. I have both an FMT (now called FMT Pro) and a D4R. Whenever I have had an error with either jig I have always traced it back to operator error. It has never been a failure of the jig. I wish some of my other woodworking equipment worked this well.
I don't work for Leigh Jigs and I never have. I'm just a very satisfied customer.
Charley