Look at www.hobbyking.com - they're Trackstar stuff is decent, if not glamorous, and fits within your budget nicely. If you're looking to go Reedy or some other name-brand, you'll need to double the budget. NIB Novak on eBay might come in at under $200.00

/ I failed to mention used. You can save some cash this way (my current rig was gently used by the previous owner)
// I do know the guy personally, which is an advantage.