I bought some Cannondale gloves a couple years ago without doing much research. I have not had a problem keeping my hands warm and usually wear less clothes than my riding buddies. The Cannondale gloves stop the wind and are not bulky. I was at the LBS today and they had a nicer Cannondale glove than I have for $39.95. I can wear these easily into the high 30's/low 20's. If I had it to do over again I would buy a larger pair so there would be more room for air insulation and to wear a pair of Smartwool glove liners underneath for extremely cold conditions. I realize this is more than your budget but you cannot skimp on head, hands, and feet since they are the areas that are most difficult to keep warm. I think the Cannondale/Smartwool combination would give the most warmth and versatility with the least of all other options.
Another possibilty would be a DeFeet wool glove and a Sugoi wind mitt. This combination would cost about the same as the Cannondale glove by itself. I personally would not use this because I ride at night and use Glo Gluv's for added visibilty and they would not work with a mitt. The DeFeet has some grippy surface material that the Smartwool liner glove does not and is slightly bulkier than the Smartwool which would not matter under a mitt.
I also saw LG Fusion gloves that are a liner/glove combination and would do a good job if you don't mind the bulkiness.
Last edited by dekindy; 12-18-08 at 07:34 PM.