In general I've had good luck with cheap scopes.
I've still got a few cheapo's, although most of the optics I use now are quite a bit nicer. I've got a Tasco Bucksight 3-9x40 I bought for $30 at Walmart back 5 years ago and stuck it on a cheapo used muzzle loader I bought. It's got surprisingly good glass for $30, and seems to hold zero well. I killed my two biggest bucks with it.
The other cheapo I have is a Simmons Deerfield 3-9x32. I bought probably 7 years ago and it's held up great. It's been dropped, banged around, and just treated like crap. It still holds zero, and never seems to be off when I go to shoot it. This one also tracks extremely well, and has really good glass. I just can't complain about this one and I wish I had about 10 more of them.
I've had a few other Simmons and have had pretty good luck with most of them. The only one I've ever had fail was a Simmons 8 Point that a guy threw in when I bought a Leupold from him. It failed after 6 shots on a 30-06, but I'm not sure what kind of previous life it had, so I can't really blame the scope too much. I've got a Simmons Presidential that was made in Japan that I've loaned to a buddy since I don't have a use for it, and it's one heck of a scope as well. I had a Simmons Blazer too, and had good luck with it. I've really just had good luck with Simmons in general.
I've used the Center Point 4-16's, and while I feel the glass leaves a lot to be desired, the one I had was durable, held zero, and tracked well.
I've used a couple of Bushnells, and even a couple of Bushnell Elites. For some reason every time I use a Bushnell I end up feeling extremely disappointed. I've never had one fail, but other than the tactical models I've never had one that tracked accurately. On anything below the Elite lines, I think the glass is severely lacking, and I've just honestly never really seen much positive about them. I know they now own Simmons and Tasco, but I've still had decent luck with them.
That all said, you can spend $180 and get a Burris FFII which you know will be a great scope, so I'm no longer a big fan of taking a risk by buying cheap. If it was a cheap scope or open sights though, I'd go with a cheap scope as I've had good luck and 98% of the guys I hunt with use scopes under $120, and very very rarely do they ever have one fail. So I don't think cheap optics are nearly as bad as some people online make them out to be.