I was in Wilko's today and saw a nice hobby vice for £4.93, which is larger, (slightly) better made and cheaper than i could find online.
The face of the vice is quite poor, its uneven, but Wilko also sell mousemats for 50p!
This provides a firm foam grip for whatever you place in the vice. It will be gripped firmly without any damage.
So 5 minutes and some superglue later, you have a great vice for electronics/hobby work.
Pics to follow in post 1.