I was in the exact same position about a month back. So I went and purchased a CMU200.
It really is nice. Spectrum analyzer, signal generator, might have a second generator (mind the 2W input in that case!), power meter etc.
You might get one with the B41 option, ie. audio analyzer.
But here's the rub that I ran into. I cannot use the RF signal generator to put out 1kHz audio @ 3,5kHz deviation AND measure the radio equipments audio deviation at the same time. It's one or the other. Some might say it's doable with CMUgo or some other format of remote control.
And the other rub, it does not show demodulated fm audio deviation from a received RF-signal! It is however possible to measure it manually using minimun and maximum values from the SA, but it's some work.
So. I'm a bit stumped. Gladly I got it a tad under ebay-prices, but still.
So I'm back at square one. Option 1, try to enable option K29 (AMPS) to see if that might help. But they're not available from R&S anymore. So that's that then.
Option 2: Get another one, they are quite cheap - especially since Microsoft shut down factories in Finland.
Option 3: Get a service monitor, CMT, CMTA, CMA, CMS. But these go for kidneys and testicles on ebay.
So to sum it up; It's not the best service monitor, there are better (older) available for the same price that are better as service monitors.