Nickfrogger

I'm finally tired of buying small sacks of potatoes and making multiple weekly shopping trips, so I'm looking to add a little storage and consolidate my shopping.

With that said, I'm thinking about adding either panniers or folding baskets (In the end it looks like they both cost about the same). It seems the baskets would be better for shopping and such, but my "utility" bike is also my year round commuter so I'm attracted to the panniers as well

So, what's everyone's favorite? What are positives and negatives of each?

Thanks for the responses!

Edit: I suppose I should add this is college budget--<$50--so reliability of the lowest end of each is something I'm interested in too (ie is it more likely for cheap panniers to rip or cheap baskets to bend, etc.)