Bringing this thread back from the dead, or at least from four years ago.
I bought the Monoprice Idyllwild on a lark because it was on sale: $30 for uke and gig bag. Now, a whole leap year later, I'd say dollar for dollar, it's one of the best ukuleles you can get on the cheap. As good as or better than the entry level Cordobas and Makalas at twice the price, and I'd have a hard time thinking of something comparable for under $50.
You'll quickly outgrow it if you want a higher end instrument. But it's a solid uke. Er, I don't mean solid wood, just decently built. Usually $40, but it looks like Monoprice has them on sale again for $30.