If you're serious, you really get what you pay for. Save the extra $50 up and break the $225 barrier. Over $250 is probably pushing it.
Taped seams, raised floor basin (bathtub floor) edges, strong waterproof rating, and a matching footprint are key.
I am biased as I love and have trusted MSR gear for a long time; I currently have their ventana, and it's been perfect.
For some basics on backpacking tents, check MSR's faq page here:
www.msrcorp.com/support/tents.asp#8In the low $200 range, there's really only two tents I personally considered, the Ventana I got (on sale at $219 at one time at REI, with a 20% member discount that got me under $200 for the tent, and then $25'ish for the footprint) or a previous year model North Face RoadRunner2 (typically falls in the same price range, but maybe 10-15 bucks higher)
I like MSR's practicallity though; all ties are made of the same waterproof material as the tent, so they can't retain moisture when the tent is stuffed; THAT is the majority of what pushes a tent's weight up; the water moisture absorbed at the near molecular level in the fabric that just adds nothing but weight.
This is why you see a move towards more mesh and less nylon in the body of the tents today; mesh doesn't hold water moisture as easy.
I can attest that I regularly, stuff my ventana, with fly, and footprint, MSR's alumnium pegs, tie lines, and support rods with a single repair splint and get in just a hair over 5.5 lbs. On hot summers, I ditch the fly and footprint, put in just a plain kydex sheet for a footprint, and get down under 4 lbs. I hate bugs, but if I wanted to approach low 3 lbs, I could go foot print and fly only with no mesh. (Construction grade Kydex sheets are very light, cheap, and good as disposable one/two trip footprints.)
Hope that helps, feel free to IM me if you want more details.
E.
ETA - Took me so long to compose this, others have touched upon what I was going to say/said. Backstop brings up a good point; how you treat your tent and it's longevity dictates what you should spend. If you destroy a tent just about annually, then higher price means nothing since it will all go to waste; you pay higher dollars for longevity from season to season in better tents.