Ditching the shunt resistor might well help the accuracy but trying to read 'simultaneous' measurements from several multi-meters at the same time (I assume to get power consumption) would be potentially rather inaccurate.
The quarch unit (http://www.quarch.com/products/qtl1455.html
) runs multiple identical ADC units from the same clock so all measurement are taken at precisely the same time. This ensures that the power value is very accurate. You would also get a similar result from a decent 2 channel scope with a current probe on one channel.
I guess it really depends on what you are trying to do. A multi-meter will probably be fine for a basic estimate or quick comparisons. To get values accurate enough for qualifying drives to a specification or similar, you'll need a better setup!