I know this is out of your price range, but I bought a Miller 211 about a year ago. It's both 110V and 220V and can weld up to 3/8" on 220, and burns 1/4" fairly well on 110. It's basically a large case welder in a smaller case.
But for the money, Miller owns Hobart and from what I've been told they are all the same under the cover.
I've said this before, but I would stay away from the Home Depot Lincolns. They are NOT Lincoln spec' welders, they are much cheaper to meet Home Depot's spec's. I know alot of people on this board have them and yes they work, but if there's ever a problem, Lincoln WONT warranty them, you have to take them back to Home Depot... They are fine welders for occasional use, but for me I don't want to have to buy another welder for a very long time.
Whatever you do get a welder that uses gas. the quality of the weld's are much better.