Anything with comparable layout and styling features to Pages will cost about the same or more. Or I've never heard of it; always a possibility. If you just want a more basic text editor, there are dozens. I've been keeping my eye on Daedalus Touch for iPad, and right now it's on sale at exactly your highest price point. The only reason I don't have it is I talked myself into the higher priced Storyist. No regrets there, just thinking I might like both. Do your own research though. I don't want you to end up with something you won't like.
Highly recommended to check the lite versions first, if available. Otherwise to check on the web... I do not have pages (not yet at least) as I bought a higher priced office bundle in a rush (and I am not completely unsatisfied with it, but there are not all features I would like there to be).
I broke down and got Daedalus Touch. I has far fewer style controls than I thought (like almost none), but other features are intriguing. I think I'll find some uses for it. One supper cool feature is how they deal with the lack of cursor keys. Tapping on the margins moves the cursor on character for one finger, and a whole word for two finger taps. Tap and hold is just like holding the cursor key down. Anyway, my main point is that it is not a replacement for Pages or another Office app, not even a supper light version. It' just another basic text editor, but with an imaginative and intuitive interface; plus some very nice sync and export modes.
