The Alessandro MS-1i is right in your price range and is all-around great. It's got excellent bass (and plenty of it), great mids (visceral is a word I like to use), and sparkly but definitely not fatiguing highs. They're tamed Grados, by all accounts - and available for 110 USD shipped worldwide.
Their only major downside is the up-front soundstage - you get excellent separation, but sound sources sound relatively close to you. I haven't heard many headphones in this price range, but few of them are praised for their soundstage. The Sennheiser HD 555 and HD 595 might be worth considering as well, but I haven't heard them (only the HD 600, which I own - and the MS-1i comes incredibly close to them for a third of the price).