Andy i would have thought it depends on how straight forward your case is and if you have the confidence to to be able to represent yourself at a hearing.

and about paying for a barrister and the judge will think you case is genuine, i'm sure a judge would be equally impressed by someone who has got off their to represent themselves at the hearing and to hear their plea in their own words of the injustice that has been done

it all depends on the reason for refusal, if you can see why you was refused, then it might be wise to just re-apply. but if you think you've been wronged then it still could be wise just to write to the ECM at the embassy and ask them to reconsider, if then refused,it still might be wise just to re-apply, but that depends why you was refused.