I think everyone needs a polishing cloth in their home tool kit. Similar to having a screw driver, hammer and pliers. You might not use it every day, but you sure miss it when you need it and it's not there.
You'll find a wide range of brands of polishing cloths, and they're probably all fine. I've only ever used the Fabulustre cloth, so I can't comment on the others.
Why do I think everyone needs one? Obviously for polishing your tarnished jewelry, but it's not just that.
With the two-part cloth, you use the red, or rouge side, to polish, and finish with the plain cloth to buff and add shine. (Keep in mind that sterling that is deliberately tarnished is not intended to shine the way brightly polished silver does.)
The cloth will also polish gold, nickel and plated jewelry. It's easy to store, doesn't smell and doesn't get messy. And it doesn't have to be used just for jewelry. Perhaps you have a picture frame, a sterling baby spoon, or another special doodad that's gotten dull. Yep, you can use your polishing cloth.