I use Kalk. Yeah, it drips all day and all night. Usually I fill the kalk reservoir and it drips (about a gallon a day) and then it sits for about a day before I get around to filling it again. My Ca and Alk stay quite stable around 410-420 and 3.6-3.7. I don't check pH too often, but it's at 8.2 when i do.
As for the level of saturation, if you put in 2 teaspoons per gallon, and shake, you've got a saturated kalk solution. You can tell because some solid settles to the bottom. I've found that my levels are maintained by dripping about 75% saturated kalk. (I just put in a little less lime when making it up).
I spent $3 to put together the dripper, and I have a $3 can of pickling lime from the hardware store, that should last me about 6 months. Can't beat that, as long as my Ca/Alk requirements don't grow beyond what I can provide with kalk.