Now I've gotten my hands on that cheap-o Nuvi 200 and I have to say, testing them side by side, they gave nearly identical performances in terms of warning me of turns, locking onto satellites, and ease of use. It thankfully didn't have the neat, but flawed MSNDirect service, and MP3 player. One thing omitted that I missed? The text-to-speech ability for reading street names during nav. Still, I'm in love with how it does the basics.
Here it is: A sub-$500 navigator with a kick-ass UI and pathfinding performance. Highly recommended.