If the rim is actually warped, it's going to be a band-aid fix (may break spokes later). If it's just knocked out of tune, you will be able to true it up. A lot of machine-built wheels are not tight enough from the factory, and it's common for them to need hand truing/tightening sometime in their careers.
I agree that a quality spoke wrench is worth the cash ($5-20), because if you damage the nipples, you'll have to resort to vice gripping them and maybe scratching your rim. Then you'll have to go get new nipples, in the correct size, and the wheel work will be a pain in the butt.
Truing stands and wheel goods are terribly high priced lately. But on the upside, complete budget wheels are down in price.
While you've got it in a stand, the best rim tape I've found yet is Gorilla Tape. You can tear long strips just the right width for your wheel, and it stays put for years.