Disk Warrior is used to rebuild the file system. It uses a unique method that some say is the best there is -- it checks where everything is and creates a brand new file system from scratch. The file system is how your computer locates where files and pieces of files (some files are stored in pieces in multiple places across your drive) are on the disk.
Tech Tool Pro also has a utility to rebuild the file system, but it uses a different method than Disk Warrior. Tech Tool Pro also checks the state of just about every piece of hardware in your Mac (RAM, video RAM, logic board etc.) and can do a surface scan of your hard drive and check reading and writing. [Disk Warrior can do a very simple check of the hard drive using something called the S.M.A.R.T. reading, but you can also do that directly from Apple's built in Disk Utility.]
The main times you would care about this stuff is when something serious goes wrong with your Mac. Disk Warrior has been hailed as rescuing some hard drive file systems that no other utility could rescue ... thus saving all the files from being lost when the file system was damaged or corrupted (say, after a power failure).
Since these two programs overlap some in functionality but each can do things that in some situations the other might not be capable of, it would be best to buy both. If you can't afford both, it's a bit of a toss up ... Tech Tool Pro does more things, but some claim that Disk Warrior is the best for what it does. Disk Warrior does not have the hardware checking capability of Tech Tool Pro, but you do have the Apple Hardware Diagnostic disk anyway ... and the problems that Disk Warrior is good at fixing are probably much more common than the extra hardware problems that Tech Tool Pro can detect but Disk Warrior cannot.
One thing you need to do is pay attention to the version number and be careful about getting one that is correct for your computer and operating system. And be sure to get these utilities updated when updates are available.
imac G5, 2GHz, 1.5 Gig RAM Mac OS X (10.4.8) (also imac G3 10.3.9; and Macbook Pro 10.4.8)