generic worked for me but I don't overclock. I would'nt suggest getting low quality anything for a computer though because it might cause problems. Depending on what your doing with the ram I'd say get the good ram.
Thats a really good question and hard to answer. I would say get some PQI ram that is kinda medium quallity but user very high end chips. I have recently moved from 512 of good ram to 1gb of good ram and I wish that I had originally bought 1gb of good ram because it would have been cheaper and I could have been enjoying it for the past year. IMO, 1gb is sweet!
if by crapy ram you mean high latencies like cas3 4-4-8, get the gig youll be better off, i sure as hell cant tell a bit of difference in gaming with loose latencies compared to tight ones, sure benchmarks show it. now good quality ram overclocks farther usally.
if i was in your shoes id want a gig of memory even if it means having to cut some corners on cas latencies and overclocking
A few questions...
1. Is this a comparison of fancy OCing ram (PC4000, CAS 2, etc) vs. "regular" (PC3200 cas3, etc.) or are you asking $65/512 stick cheapo PC3200 vs. "regular" name brand memory? I'm guessing it's the former, since the cheap stuff is maybe $65/stick while quality "regular" memory (Corsair Value Select or similar) is about $75/512 stick.
2. Do you think you'll want/be able to spend more $$$ reasonably soon on ram?
3. Can your mobo work with just one stick? How bad is the speed penalty?
If you said yes to 2 and 3, you might want to consider 1x512 now and add another one later.