The guitalele sounds fabulous – I bought one a few years ago for my Dad, and when I tried it in the shop I couldn’t believe how sweet it sounds. However, it’s definitely not a ukulele.
I started on a uke when I was 4, but have played guitar since I was 5. A year or two ago I picked up a uke in a music shop, and fancied buying one. However, I have fairly expensive ears, so the more I looked into it, the more I decided to spend. The cheap ones generally don’t sound that good, and aren’t well made. I think I’d be tempted to spend at least £50. I can’t remember trying them, but it looks like a Kala is around that, and you can obviously spend more if you start to look for ukes made from solid wood. It’s worth buying from a decent shop which will make sure the thing plays as good as it can.
Some of the ‘plastic’ ukes are good (I think the Flea model) and might be better if you’re carrying them around to practices and gigs. However, I think they’re a fair bit dearer – maybe £100 to £200 from memory.