Some very interesting opinions already raised here. It does depend on what you want from the bat and what the bat is for, if that doesn't sound ridiculous. Net or match bat, something to see you through the rest of the season or a longer term option. A bat for some slap & thrash T20 type stuff or more of a stroke-makers match / best bat, etc.
As I am now buying not only for me but for my 14 yr old, I can speak for both of us when I say value for money! I do like a bargain... The feel of the bat and it's pick are more important than dead weight and the mallet / ball test is key, as I would go for performance over looks if I am being honest, although having said that, I wouldn't be caught dead these days walking out to the crease with an absolute munter irrespective of how well it goes! What, out in the middle, with my reputation... I'd also want a decent bat to last, at the very least two seasons, which is where a net bat can come in, although ideally a net bat would of course need to be an almost perfect match to replicate what you'd use in a game at the weekend. And a net bat might be your retired match bat of course. Obviously it also depends on the type of player one is, the amount of cricket being played, where you bat in the order (to some degree), etc. My lad plays a lot - school, juniors, District, seniors, cricket academy, nets, etc. I managed to notch almost 600 runs last season too, so we warrant the expense and need a decent stick or two, as we keep telling his mum (him more than me now that I am in the twilight of my career).
I think it may be difficult to get consistent answers to this question as for many, budget may be the driver, which is where value for money may come in and getting best value for ones cash, at whatever price point... this being the ideal forum from which to get good value I feel. At whatever level / grade - I guess performance is the number 1 attribute we are all looking for.
An interesting topic.