I listened to some M-Audio monitors and A/B'd them against about 6 or 8 other different pairs of monitors at the local store. At first, they were my favourite, but they really stood out as being very bassy and maybe the term is 'scooped'. Kinda like how you'd like to listen to your favourite heavy metal. Lots of kick drum, rumbling bass and wild screaming pick harmonics.
Then the shop guy politely informed me they were absolutely the worst choice I could possibly make. You gotta go for as flat as possible. It might sound dull at first, but when you're doing your mixes, and A/B'ing your own mix versus some well produced commercial CDs, it will give you the truest, most un-biased representation of where you sit and cause the least amount of headaches in the end.
Funny thing. After the first 20 minutes or so, my last choice were the KRK Rokit RP-8's that I eventually ended up buying after being steered in the right direction and listening carefully for another 30 minutes. They're lovely, but more than what you're looking to spend I think. Seriously though, -always always always- consider spending a little more than what you originally intended to get to that next level in technology. It's something you'll grow into and not something you'll grow out of right away.
