I think most companies are making some pretty good bows now days.
Now with that said I just bought a new bow. I shot about every bow I could get my hands on. That is what I would recommend, everyone is different so you need to fins what fits YOU.I hade a pretty low budget so I shot the new Matthews but it was not even close to my price range.
Here are the "budget" friendly bows I really liked
#1 Diamond Rapture this bow is made by Bowtech and in my pro shop the bare bow was $369.00 It was very smooth, shot very well and the speed was good. Had very little hand shock and felt the best to me. Diamond also offers several other bows that are very reasonably priced but in the axle to axle length and price range the Rapture fit the bill for me.
#2 Reflex Buckskin this bow has Hoyt cam and 1/2 system. the Diamond was a little smoother, the speed was about the same.This bow was also $369.99. I liked the feels of the single cam a little better.
#3 Bowteck Tomkat This bow was a little like the Diamond with a little more parallel limb design which gave a better brace height but with my short draw length I liked the Diamond better. Speed was about the same. This bow came in a complete package for $439.99 but I did not like the accessories Im not sure what the bare bow cost was.
Now I went in to buy the Diamond Rapture and the shop was out of them. In the waiting time I found a new in box 2004 Bowtech Extreme VFT and bought it. It felt as good as the Rapture but the IBO speed was over 30 fps faster, and the price was the same so I now own it.
I hope this narrows down the field, but there are many great bows in a moderate price range if you look. The pro shops usually do start at the top when you ask to see a new bow but I did not have $1,200.00 for a new bow.
Just shoot all the bows you can and buy the one that feels best to you.
Good Luck