Depends what you want your pre-shave to do and for how long you want it to do it. I have several minutes between stepping out of the shower and towel drying my face before actually starting my shaving ritual. So I use an oil as soon as I've dried my face - keep the stubble soft and moist - and then apply Proraso pre-shave creamm just before starting to lather up.
Pretty much any old veg oil will do for that, so I have a big bottle of coconut oil for not a lot of money and several ridiculously expensive pre-shave oils, Murdocks being on of my favourites. I hate to say it but BlueBeard's is good and not so very expensive.
Do we need all this pre-shave stuff? No, but it's nice. A well wetted beard and a good soap/cream will do the job - but lacks pamper even if it would save cash.
Oh! best pre-shave - Swagger and Jacks of Norwich, no doubt in my mind.