Yeah, the helping hands that you normally buy suck. So does the magnifying lens. I still use my helping hands thingy occasionally, but normally just use my panavise circuit board holder (ebay). I also use an Optivisor:
Amazon.com: Donegan OptiVisor Headband Magnifier 2 1/2X Magnification: Industrial & Scientific
Mine is the highest magnification, which while fine for looking soldering joints over, etc., puts me too close into the work when soldering so I really should buy another lens for it (you can buy them separately). Good thing I like soldering fumes