While looking around for bass traps that I could afford and could have stained/colored etc to my decor, I came across
http://www.modularacoustics.com. The owner (Nick Fournier) who I believe is a musician makes floor standing traps using air space sandwiched between twin layers of fibreglass.
After communicating with him a bit, for a little more he agreed to make a pair using a higher quality pine stained the way I like it (dark cherry) and use a fabric that matched the color of my walls (I sent him a sheet of paper painted with the same color by mail). I must say that what I got back is well built and fantastic looking! His construction time too was extremely fast! I have no equipment to measure their effectiveness unfortunately, but to my ears they appear to smooth out bass response (and they look great in my room decor since they were built to match the colors).
For those who are looking for a cheaper solution (I would not expect these to work as well as the best out there) and do not have the time/expertise to build one themselves (such as myself), this may be something worth considering. By the way if you are wondering, I am in no way connected with this company ... just a satisfied customer.
Sankar