A few years ago I bought a Zeus modular helmet for around $90. I wore it as my primary helmet for two years with absolutely no problems. Would it protect my head the same as a $500 helmet? Who knows. I do know the money I saved allowed me to purchase other protectivce gear that I otherwise probably wouldn't have bought until much later, so I feel the tradeoff made sense.
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http://www.webbikeworld.com/ for reviews on helmets and all MC related gear.