It's true that you shouldn't compromise on the price, but you can also make the most of an inexpensive bat if you know what you're shopping for. There have been several theories regarding which cricket bat is the best. The trick is to find the right combination of weight and "pick up" of the bat. You should see if the weight of the bat is balanced or distributed along the willow. Many batsmen prefer bats that are heavier down below as it makes it easier to drive elegantly.
You should also see whether a bat you buy has been knocked in properly or not. Some more expensive bats come pre-knocked and they are usually on the higher end of the pricing spectrum. Your bat should come with some instructions or a brochure that describes the condition of the bat and whether it has been knocked or not. If you choose a less expensive bat, you could use a special hammer tool or a mallet to knock the bat, oil and such. In any case, do not use your brand new bat to for match straight out of the store! Always get some knocking in done before going for your big bat debut, if the bat has not been knocked in. Check out http://www.owzat-cricket.co.uk/about_cricket_bats/about_cricket_bats.htm for some good tips.
As far as the wood of the bat is concerned, traditional English willow is considered superior. The cricket bat willows are in several grades. Do some research on the various grades. Don't be confused with terms like Titanium or Carbon, though. These are not made of titanium but wood. However, newer and less expensive bats use the Kashmir willow just as much and are great for keeping a variety in your armoury.
