James, I would say go with something cheap. There is no need to spend anymore than $20-30 on a bag. I used a cheap $20 Jeppesen bag I bought at an FBO and it lasted all the way until I got my first airline job, then I bought a catalog case. Save the money now, you'll thank yourself later.
If anything, take the extra money you spend on a bag and put it towards a good headset and things to help you stay organized in the cockpit (kneeboards, chart clips etc.) Your bag will spend most of its time in the air on the back seat.
