If you use decent vulcanizing patch kits and the tube's in decent shape other than a small hole, patching it will give you a tube just as reliable as a new one.

Rema Tip Top patch kits have been the de facto standard for decades because they're inexpensive and work well. The Park Tool VP-1 patch kit is another good option. On the other hand, I think the consensus is that peel-n-stick "glueless" patches aren't as reliable or long-lasting. Personally, I'd suggest avoiding them.