11:04 a.m. on May 20, 2011 (EDT)
Apeman, makes a very good point in suggesting buying used gear and one can find some superb deals, IF, you know what to look for and what YOU actually require. I just bought an Integral Designs MKI-Lite, a tent I have wanted for sheep hunting here in BC, for less than half it's new cost and it was used on two "family" camps in Georgia, USA, by a gentleman there whom I have assisted with gear and sheep hunting advice in the past.
This, was not offered to me alone, it was initially listed on an open forum along with his other two ID tents, both as new and his Wedge Bivy with porch, NIB. He just was not using them and has several Hilles. that he prefers. Deals like this are "out there" and I have bought 3-4 Bozeman-Dana Design packs this way, as well, because I know from 34 years of using these how well they work for me and how they last in very harsh conditions.
That said, the Valandre bag I suggested costs just within your original price limit and would be ideal in the conditions both you and Apeman describe. A friend of mine in Utah, the chap I PMed you about, actually used his Shocking Blue at -20*F in the Winds in Wyoming, IIRC and while that is not really "cold" by Canadian-Alaskan mountaineering standards, it is getting a little chilly, eh!
I learned a long time ago, that "brand name" is just bullcrap, but, real quality in gear is worth spending coin for and, like Apeman, I try to buy for life. With over a half century of experience in some of the most remote, coldest and wettest wilderness regions left on Earth, I have found that this works for me and I hope my suggestions will/have helped you.
One aspect of the "highend" bags not often mentioned on sites like this is that they will work at temps. FAR colder than they are "listed" for and that is a major plus, IMO. My original Marmot Mtn. rated to -20*F kept me toasty inside an Early Winters GT bivy on a solo trip to the Kokanee Glacier when the temp. fell to -41*F at night and, again, IME, the lowerend bags will not do that. I had these issued to me in the BC Forest Service and on several occasions, dang near froze my butt off in Sept.
Cost IS important, but, some items of your gear are worth paying to get gear of the quality used by major mountaineers and explorers and thus not having to worry about possible failures, which, could have disastrous consequences.