Hello Rocketfish,
Sorry for the late reply. On another site I started a thread dealing with this very topic. In the price range you are describing, there is no doubt that the best way to go is with a vintage rod. Here is just one quote from this previous discussion:
"South Bend - SB made some pretty decent casting rods. You should look for the 8.5 footers with the SB Dry Fly taper (the 9 foot rods are much more prevelant and are also good, just a bit heavier). The model 323, 346, and 359 are all great rods and can usually be found for well under $200 bucks.
Horrocks & Ibbotson - HI made a ton of rods with a ton of different names. I think many shared the same taper, with the names being a marketing thing. The crown jewels of the HI line up have to the the Tonka "royalty" series. This would be the Tonka Queen, Prince and Princess rods. Great little rods to own and can also usually be found for under $300 in very good condition.
Phillipson - although considered a production rod company, Phillipson made some very good fly rods. You cannot go wrong with a Powr Pakt, Pacemaker or any of the other rods that they made. The crown jewel of the Phillipson line is the Peerless impregnated rod. With Phillipson rods, you kind of jump up a bit in price range. To get a nice Phillipson, you are looking at the $400 to $800 range, although bargains do abound if you are willing to pick up a fixer upper.
Orvis - my personal favorite. The Orvis Battenkill line of impregnated rods are built tough as nails and their tapers are some of the best out there. The 7.5 foot 4.0 oz rod and it's slightly smaller cousin, the 3 7/8 oz rod are two of the best all around trout rods out there, but the price for a nice Orvis 2 tip rod jumps up to the $600 to $800 range. One option on an Orvis rod is to look for a 1 tip rod. You can usually find a 1 tip Battenkill or Madison for under $500 bucks."
Classic rods are a great way to explore bamboo. They don't have to cost a lot of money, but they are rich in tradition.
Good luck in your search!
Bill O.
www.oysterbamboo.com