I just recently bought a few Sancho Panza's ($3.50) and Indian Tabac's (Rocky Patel's original brand, also $3.50, while I wait for my RP Vintage 1990's to get a few months older). The Indians are better than I thought they would be, getting a bit hot at the end. I didn't light up the Sancho Panza's yet, but decided to investigate when Cigar Aficionado wrote them up as a great, inexpensive smoke, rated in the 90's.
I don't count the Don Elias torpedos that my brother bought very cheap from Thompson's, since I have choked down three and they haven't gotten any better. I think they were having a sub-$2 clearance on them.