Not all of them offer bows in the $300 price range, but you can get a GREAT bow for WAY less than $800 from very experienced, well established bowyers/businesses such as:
Navajo--in business for at least 12-15 years
Black Forrest (Mike Treadaway)--been in business for around 10 years--probably longer
Chek-Mate (Marc Moriez)--Chek-Mate has been going strong for about 35 years, Marc has been with them for the last 20 or so.
Martin Archery--been around for years and years, still has some pretty good bows for well under $800
Bob Lee--a legend in the sport, he also has bows for well under $800. I just looked at his site, and he has a sale going on with bows starting at $300.
And I'm sure there's several others--those are the first that come to mind. I wasn't talking about guys working out of their basement or garage--nothing against them, as everyone has to start somewhere, and not everyone can start out with a full-blown shop--but if you do your homework, you can find a great bow in most any price range from a well established bowyer.
It may not come down to bragging rights for all, but it does for some. I've seen at least one instance of a company making bows for different dealers, and some dealers put different names on the bows and sell them for a lot more. One fellow I saw wouldn't give the bow with the cheaper price/brand name on it a second look, but loved the one he paid more money for with the "big" name on it--and it's the EXACT SAME BOW--same bowyer, off the same form, with the same woods, etc.--just a different name written on it.
Don't get me wrong here--I have nothing at all against the more expensive bows, and have shot several that I really liked. I've also shot cheap bows that were, IMO, junk. My point is simple--paying more doesn't always mean you get more for your money. Some cheap bows are just that--cheap bows. I've seen crappy ones with big price tags too--poor finish, poor design, poor performance.
A feller needs to do his homework and get a little bit of education towards what he is looking at before he makes a purchase--you aren't doing yourself any favors judging them by price tags alone.
Some of the cheaper bows even have a better warranty. Most of the companies that don't charge as much simply don't have as much overhead to cover--their shop isn't as big or fancy, they don't spend a ton on advertising (CM doesn't spend anything on ads, catalogs, etc.), cost of living is better where they live, they choose to live a simpler lifestyle, they do a lot/all of the work themselves rather than just run the show, etc. NONE of that factors directly into the quality of a bow, but it certainly does factor into the price you pay for it.
Picking up one vs. the other is not a comparison, except in personal preferances. Compare materials, draw force curve, performance, durability, warranty, customer service, design, company longevity (you don't normally stay in business very long if you consistently put out junk and/or don't take care of customers), etc. etc. etc. Those are things you can actually see, that won't be biased by personal preferances, labels, or price tags.
After all that, get out to some different tournaments and take notes. See what the better shooters are using. You'll find some that are shooting very expensive bows, some shooting cheaper bows, some shooting homemade bows. The proof is in the results, not opinions. Price doesn't make a bow shoot--the monkey behind it does.
Chad