for most newer engines (gm anyways), most all the engine bolts are torque to yield, and the bolts are a 1 time use only,, and when you torque these type of bolts , they use a very small torque to seat the bolts then they are tightened by angle, so you really dont need anything fancy for the initial small torque
example of some of the tty bolts on a LS3:
Camshaft Sprocket Bolt - First Pass 55 lb ft
Camshaft Sprocket Bolt - Final Pass 50 degrees
Connecting Rod Bolts - First Pass 15 lb ft
Connecting Rod Bolts - Final Pass 85 degrees
Crankshaft Balancer Bolt - Step 1 111 lb ft
Crankshaft Balancer Bolt - Step 2 Loosen 360 degrees
Crankshaft Balancer Bolt - Step 3 37 lb ft
Crankshaft Balancer Bolt - (with Flanged Head) Final Step 125 degrees
Crankshaft Balancer Bolt - (with Retained Rotating Washer) Final Step 200 degrees
Crankshaft Bearing Cap M10 Bolts - First Pass in Sequence 15 lb ft
Crankshaft Bearing Cap M10 Bolts - Final Pass in Sequence 80 degrees
Crankshaft Bearing Cap M10 Studs - First Pass in Sequence 15 lb ft
Crankshaft Bearing Cap M10 Studs - Final Pass in Sequence 51 degrees
Cylinder Head M11 Bolts - First Pass in Sequence 22 lb ft
Cylinder Head M11 Bolts - Second Pass in Sequence 90 degrees
Cylinder Head M11 Bolts - Final Pass in Sequence 70 degrees
you will need something like this to get the degrees set right:
http://cgi.ebay.com/ebaymotors/OTC-T...ltDomainQ5f100
there are also electronic/digital angle meters/gauges that snap on to your extension and give real accurate degrees for tty bolts