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I've got the Panasonic E50, and it's excellent. I've now recorded about 30 discs on 'standard play' (gives 2 hours of recording per disc) and unless you sit about 2 inches from the screen, you cannot tell the difference between the recording and the original. Recordings on 'flexible recording' as Ernest has described in his excellent post are even better.
In the UK at least, the E50 is current one of the the cheapest on the market, and I'd say get as cheap as possible, then you won't worry so much about upgrading it as newer (and inevitably cheaper and better) recorders come along.
A word on formats - nearly all recorders offer two recording formats. My Panasonic has DVD-RAM (fantastic quality, reusable - and incompatible with nearly all other makes) and DVD-R (once formatted the discs can be used with a large range of other machines - my Sony and my parents' ageing Panasonic DVD players both play them without problems). I'd personally make sure that at least one of the recording media is widely compatible, otherwise your library of recorded DVDs is going to be useless when you change machines (think Betamax).
It's also worth noting that one or two (more expensive) machines have a hard disc recorder as well (basically like having a Tivo recorder *and* DVD recorder in one box). I've no need for this because I have a Sky+ box (only available in the UK, but basically like Tivo). However, I've got to say that the hard disc recorder is a superb idea. Not least, you can record a fair amount of stuff onto the hard disc (about 20 hours on my machine) in perfect quality (the disc records direct from the digital feed on the Sky+) and then recording on to the DVD-R is a rather more controlled affair than trying to record 'live'.
Incidentally, Ernest, I've tried my machine on about 5 different types of DVD-R and found no difference in quality or reliability. The cheapest (in the UK about a pound each, for which you guys in the States can probably buy a warehouse-full of discs, no doubt) unknown/unlabelled brands seem to work just as well as the most expensive big name brands. Maybe I've just been lucky.
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