I agree with the folks that have recommended talking to local dealers and seeing if they have a nice used machine in your budget. That's probably the best way to get a good quality machine and get the most "bang" for your buck, and you should be able to get a warranty for it from them. If you build a good relationship with your dealer they'll keep their eyes and ears open for you, too, even if they don't currently have anything on hand that suits your needs. I've only dealt with one local dealer and they (husband & wife team) are just wonderful, wonderful people. Of course not all dealers are the same but at least some of them are really good folks who are passionate about what they do, and will work hard to match you up with the RIGHT machine, not just the most expensive one.
I love the features on modern electronic machines. I also think I good good advice when buying my current machine - I bought something a little more "advanced" than my current needs. I won't be growing out of this machine anytime soon! I spent a lot but I plan on using this machine for 20 years or longer. And now I don't know how I ever could stand to sew without the needle-down function, or that lovely little scissors button!!