If you're looking for something inexpensive but totally usable, I bought this for $60 about a year ago...
Mizuno 34" World Win GXC75 Catcher's Mitt
... and love it. The leather is surprisingly soft, and the mitt required almost no break-in. I was looking for the cheapest mitt I could find to catch my son, but it had to not be a total piece of crap. This one is perfect.
Unfortunately, it looks like Amazon doesn't sell it anymore, but if you could find the equivalent current Mizuno model, I bet you'd be pretty happy with the value.