You REALLY should go with a used custom cue around that price range.
http://forums.azbilliards.com/showthread.php?t=242010
Ross is selling a Jacoby for right in your neighborhood. I started with a Jacoby SP, still have it, still use it, even though I have over 10 cues at this point, and getting more. I still use my Jacoby. The action is smooth, I learned how to get more grip with the wood shaft, not something with low deflection, and I can tear down a rail with an ob shaft. But the ob shaft can be too harsh, not as forgiving.
I don't know a single hustler who uses low deflection shafts for their player cue. Most guys who make a living off pool will use a gilbert, or Olivier, or something in that tier.
I STRONGLY suggest you consider Ross' cue or Jim Baxter's Wayne custom, they are at a solid price for a great players cue.
I also will readily endorse Carolina Custom Cues, Olivier, Espiritu, Baxter Cues, Gilbert and Lomax. I don't believe any of those guy would let a bad cue go out, I've hit with all but one of those and they are all great hitting cues, distinct feeling enough that if you know what you like you can pick one based on that. Otherwise, you will fall in love with any one of them. I have never heard a single person say a single bad thing about how they play. As long as you're not paying retail, you're getting anywhere from a normal price to a great price. Feel confident buying a custom cue and learning with it.