The old chrome pattern Shakespeare Big S has always been a winner for me in the budget category Kevin. Mine are very scarred and faded,...I've changed the hooks numerous times since I brought them in the 80's, but they still catch,...could be the rattlers inside that do the business.
I see they're still produced and have been copied by others, don't know if they've still got that magic of the originals?
Unless they've enlarged the diving vane, they will only get down to about 3 feet though.
As you say, some of the cheap lures on sale are terrible, but the soft replicants are worth a punt.
I have to admit to spending silly money on bass lures in a weak moment,..as they say,...they're there to catch the angler, not the fish!
Another cheap winner for me has been the very large flounder spoons which are almost to light to cast any distance, having being designed as an add-on attractor. I have to make a slight adaption to them to use on the rivers for pike, but because they're light they flutter up in the current and can be retrieved enticingly slowly. Big chub tend to like them as well.
ATB Dave