The meter looks OK. I'd want to compare it with something else once it was in operation.

I've never used Plasti-Joint. It may be great. However it looks a bit small to be using on 1.5" and 2" threads. Here's what I used the last few years:
Rectorseal 31551 1/2 Pint Brush Top Tru-Blu Pipe Thread Sealant