true siamese algea eater is a good algea eater..or is supposed to (experience might vary). they are pretty though.
+1. These guys will actually go after black beard algae as well. They are most effective when they are small and when they get larger, they will start eating fish food as well. This won't stop them from foraging on algae though.
The only issue with them is that they will get pretty aggressive as adults. I have one in with my rainbows and he pushes everyone around... chases tetras for sport. I think that they'd be fine around new world cichlids, so long as they're not big enough to eat them (mine maxed out around 3").
Make sure you get a true SAE and not a Chinese algae eater or flying fox. You can tell the true ones by looking at the horizontal black stripe down their lateral line. The SAE's line will extend all the way back to the crook in the caudel fin, whereas the others will stop short of the end.
IMO, green phantoms are cooler though, if you have the tank space and they're in the budget. Not sure if they go after the BBA if that is a concern.