C. - I have purchased a lot of flat irons over the years, all in my quest not to break down and buy the $300 Chi iron...and all of them failed to give me look of a Chi, and also fell apart.
About a year ago, on the advice of my stylist, I purchased the generic Chi iron from Sally Beauty Supply for about $100 - I have been extremely satisfied with it. It heats up quickly & gives me that absolute straight look I get when I'm at the stylist's. Not sure what about the Chi makes it so superior, but it is - I'm sure the still expensive generic version isn't as great as the real deal, but it is still far superior to all others I've tried.
Good luck! S.