Can you specify what you think cheap is? Its pretty much the same story here, 100's of saddles, even more variety in arses. What fits one person, is hell on a stick for someone else, so the usual try a lot of different saddles out if you can rule applies. See if you can pinch a mates saddle for a bit and go for a decent length ride to see if you get on. Saying that here are a couple of my favourites.
FSA - it came on a road bike that I bought a few years ago, swapped it out and boxed it up. Now its on my fixie and its really quite comfortable. Could do with being a bit flatter in the nose but that's just me. If you see one around on Ebay I bet it would sell for next to nothing. Its not flash but its a reasonable weight, good profile and looks sleek. Not much more you could ask for.
Selle Italia Flite - I bought one on a recommendation and loved it, I have the standard Flite. Its supportive, but a little hard, and has a good turn down at the back which helps stop shorts getting snagged. I did have them on both the MTB and road bike, its still on the MTB. Could be a little wide if you are planning on dropping back off the saddle a lot and want to have a high seat.
New Favourite *Prologo Scratch Pro* bought this from Cell bikes for the ridiculous price of $59 when it was on sale, its still a good deal at the price its at now. I bought it because it was cheap and it matched the build scheme I was doing. Its heavier than stated running into the 240 area but it is supremely comfortable for me. It will now be my go to choice of saddles, this one is a keeper. You can get lighter versions of the same shape if the weight worries you.
Other than that try out the Fizik Gobi which people seem to like or even the Tundra, the Specialized saddles get good reviews as well. I would suggest having a peruse of Ebay for saddles and pick something up cheap that you like the look of, that way if it doesn't work out you won't have lost much money on the transaction. Probably the best way to test ride saddles if your friends don't have them. I'm sure there are some people out there who have spent a lot of money trying to find the "right" saddle.