I've been tossing around the idea of picking up one of the low-cost 35W HIDs for some time too, but with shady eBay dealers being about the only retail outlet, I just can't justify spending $350-$500 on a light that could die at any moment, with no warranty recourse or even a place to send the light for paid repairs.
Personally I've diverted my "Cheap HID Budget" to Surefires... picked up an M6, and considering going in with one of the pre-orders for a UA2 ($279), and definitely interested in a U2B when the pre-orders are ready. (At 400 advertised torch lumens, the U2B is in a position to supplant several handheld HIDs.)