My two cents go for the auger first. Cant fish without a hole. I know they say you can shoot through ice with a vex, But up here where we get anywhere from 12" to over 40" of ice through the winter, i have never seen a vex shoot through the ice with much accuracy. I bought my first jiffy at a pawn shop for 60 bucks. Look around mayber you can find a used auger cheap. Maybe be able to get both that way. Ever tried drilling through 30" of ice with a hand auger??? not fun. Fished for 40 years without a vex though. Can't say I catch more fish with it either. I am not greedy when I fish. I stop at 15 panfish. That is all my wife and i can eat for supper (filleted). 2 walleye are plenty. Good luck and enjoy whichever you choose. Steve