I use a $6 Walmart iron. It works just fine. The iron is so inexpensive that when I go on snowboard trips I pack my wax and just buy another iron at Walmart wherever I am going. The iron is probably the cheapest item I spend money on while at a resort town!
The thing about the steam holes being a problem is a complete myth.
I went for the £7 option in my local Tesco as they were out of the £3 ones. This meant I got the upgraded steam version. The holes get as hot as the plate so any wax that gets in just melts straight out onto the board. As long as I don't accidentally fill the reservoir with water and accidentally switch the steam function on I think I'll be OK.