Bargain winches are good if you intend to use it very rarely, and if you don't mind the unbearably slow speed, at all. I've run with plenty of guys who use them, and I always just volunteer to winch if I can instead of them. Mile Marker makes some good winches, but their bargain winches are slow. I run an XD9000i, love it every time I use it. I've treated it pretty bad, pulled some unsavory pulls, and some that should have never been pulled and it has yet to give up on me. I won't use anything but Warn.
What you really need to ask yourself are these couple of questions:
1)How often do you intend to use it?
2)When you use it, is there a chance you will be using it in a very hairy situation or just to get out of a mudhole?
3)Do you intend to winch other people if need be?
4)Do you mind excruciatingly slow speed?
5)Do you mind failure?