"I've been told that a competition type seating die is a waste of money, if your not shooting a custom or competition gun. Is this true?"
As a flat statement, no, it's not "true". Comp dies are less likely to be much help in factory chambers but even that's not a consistant thing. If your present die set is doing good, it is less likely to be any help. But, if your present die's are not doing good, changing to anything can be good, even to another set of the same brand!
IMHO, for 7/8 x 14 dies, none but Forster and Redding "comp" seaters are worthy of the name. Only they have a full length, straight line, sliding case holder. But, no one can honestly tell you what you want to hear, "Will such comp dies be helpful (to me) or not?" That depends on far too many variables for such simple answers!
For sure, I can say that "micrometer seating heads" mean nothing to the quality of ammunition that can be produced with any seater. Nice to use, easy to change a specific amount, YES! But, I question their "cost:value" ratio for most of us.