I bought my 8-inched 10W Marshall valvestate for $50(2nd hand), no reverb. So far so good. I find practice amps don't really need to be expensive, since we don't gig with our amps (right?).
My latest reccomendation is a SMARVO 4012R. Falls in this price range, practise amp price. Comes with 12" speaker at 40watts output. It's jamming class amp. Built in overdrive channel is not bad too, quite smooth sound, ideal for rocking. I feel this is the dawn of a new amp pricing era.
Another model which is slightly out of the budget range, due to the fact that it's a Stereo amp, with built in stereo chorus effects. Good for music mainly using the clean sound or slighty boosted drive. Features 2X 10" speakers, 40watts power output in stereo, spring reverb, standard stuff.