I used the Elite heater for almost a year before I decided to upgrade to a fully submersible one, and in all honesty, it worked very well. It held the temperature stable at all times (and I checked at least twice a day, every day), but I needed to top the tank off rather often to keep it at the minimum water line.
Keep in mind though, it seems like I got one of the somewhat rare good units of this model. I'd probably go with a heater that has more consistent positive reviews.
You could look into the Hydor Theo heaters - they are a little bit outside of your price range, but they are considered by many to be extremely reliable and are pretty inexpensive as far as heaters go.
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