I think you mean BoundsChecker by Numega/Compuware (the same people who made SoftIce). And, yes, it is very expensive. And it doesn’t work all that well.
Something you might look into is a tool I use called “Visual Leak Detector”:
http://www.codeproject.com/tools/visualleakdetector.asp
For memory leaks it works like a charm. Other types of leaks are not detected. And, despite being in a section labeled “MFC/C++”, it works fine with plain ol’ C++ (meaning it’ll work with WTL).
GlowCode is supposedly a pretty good leak detection tool and is much cheaper than BoundsChecker but I don’t know how good it is.
Rational Purify is another product (by IBM – which should tell you how good it will be…that is, not very).
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