daftha, if you think Bruno Magli shoes are "cheap stuff" then you've never owned a pair. HIGHLY RECOMMENDED. Sure, they cost upwards of $250 (regular price on mine was $300, I paid $120), but they are the most comfortable and durable dress shoes I have ever worn -- look fantastic and feel like slippers.
I'd also recommend taking a look at Johnston & Murphy. I have a pair of wingtips from them, and they are terrific. They have held up very well and are quite comfortable.
On styles, if you are only buying one pair, go with basic, plain cap-toe black, lace up. Laces are more conservative than the "slipper" or buckled types, and black goes with nearly everything (obviously depends on your wardrobe -- if you have nearly all brown items, go with brown). Johnston & Murphy has a very nice pair that I've been eyeing for about $140.
As for saving money on these, remember two things. First, cheap dress shoes HURT LIKE HELL. I bought some bad ones several years back in an emergency and regretted every second I had to wear them (they went into the dumpster soon thereafter). Second, a quality pair of dress shoes, with proper polishing and care for the sole, will last for years. I fully expect my Bruno Maglis to last for many more than the six years I've already had them (had the sole replaced once already). They look as good as the day I bought them.
On the other brands mentioned, I've worn Nunn Bush (pretty nice), Allen Edmonds (quite comfortable), Florsheim (can't recall my impression), and Rockport (exceptionally comfortable, but not always the best styles -- great for "business casual" though).