The Windlass bowies are not bad, if your criteria is toughness rather than edge holding, and if you get a good one rather than a junker. The quality control is a definite problem - they are all supposed to be tempered spring steel, but they're made by local workers on a cottage industry system. The ones that aren't crap seem to be something like 5160 or sometimes 1050 or 1070, at around 54 Rockwell.
If you are going to get one, get it from Atlanta Cutlery - I have gotten bad ones, I have sent them back, and they send me another one or a refund without batting an eye.
So I find that they can be OK knives (if you want tough not hard) with crappy quality control and good customer service. Is that worth your money? That's up to you. The main downside is that buying on IS a lottery - you get it, test it, and keep it if it's good and kick it back if it's not.
For a using bowie in that price range I'd look at either Ontario's Spec Plus line (which, again, have some quality issues but a good warantee) or the Beckers.