Thanks for adding your thoughts Rodney!
No, the vise doesn't have to be expensive. But, like I said, it needs to hold all the hook sizes, and solidly.
It's very frustrating when you're trying to tie materials on the jig head and the hook slips, or the head moves in the vise jaws so that you can't keep the proper tension on the thread. Been there!
I have a Regal Medallion vise, and it's not cheap in price. It's a great vise, but I got it a long time ago, ( before they started putting the "medallion" on them) and it won't hold some larger size hooks that I use. Mine has the "standard" jaws, and they don't open wide enough to accept some heavier wire hooks when they start getting into the 2/0 to 3/0 size range. It does hold any hook that will fit very solidly. If you only tied jigs on light wire hooks, it will do the job & very well.
Regal now makes a couple of versions with different jaws to fit a wider range of hooks and even have a stainless steel version. (Very expensive, but I would love to have one!
I also have a much less costly "knock-off" vise based on the Regal design. I paid about $35 for it. The Regal I have is mounted on a pedestal and sits on my tying desk. The knock-off has a C clamp mount so needs a table edge to use it. After tying on it a few years, I can honestly say it would be a great choice for tying jigs. It even holds some slightly larger hooks than the Regal. I bought mine from an Ebay seller, but they're sold by various vendors.
I agree with Rodney about thread colors, you don't need a lot of them, but that's a choice that each tyer has to make for themselves. I have & use several colors, but mainly because I'm tying flies too with the same threads.