Well, it depends on the features you want but I think anything for that price is pretty much disposable.
I personally prefer spending a bit more and getting a proper steam iron with a water spray and a steam spray. Steam really helps flatten out those wrinkles. If I'm ironing a pair of Khakis and there's a wrinkle which just won't come out, I love to blast it with lots of steam, it will be gone. The water spray is perfect for when steam just won't do.
I love using a very heavy iron, the heavier the better. Electric irons don't really come in very heavy models, unfortunately, but it is a sign of quality.
Having lots of temperature settings helps, so you can iron anything from Acrylics to Linen and anything in-between. The key trick though is that it should be able to produce steam on a low heat setting. The iron I have now doesn't start making steam until I use the cottons setting.
Here's a good article:
http://www.goodhousekeeping.com/product-reviews/appliances/best-irons-0409#slide-1
Here's another one:
http://www.slate.com/articles/life/shopping/2006/10/the_pressing_question.single.html
I know it's not the price you are looking for, but spending that extra little bit will give you some extra features which will make your ironing considerably more pleasant and dare I say it... fun!
Don't be put off by the noise a steam iron makes either. A good steam iron makes a racket, but that's good. The more the better.
Don't let the prices scare you.. the extra bit you'll spend will be worth it!