Wow, just wrote out a response regarding acoustic guitar, not electric... wow. I've been recording acoustic acts for far too long now.
The e609 works quite well on guitar amps... I have always gotten a nice, natural sound out of it. I have also used a small diaphragm condenser (MXL 604), and a large diaphragm (Rode K2). The K2 adds a nice bottom end. Its a little out of your preferred price range, but most of the Rode condensers will work just as well, such as the NT1000 or NT2-A. Both are large diaphragm, but the NT2-A offers multiple patterns, which is always handy, for switching from guitar amps to vocals, to acoustic instruments, etc. I suggest Rode over the MXLs mainly because the Rodes have a more natural sound, and are far less noisy (in my experience).
Just lookin out for the ole bang for the buck buys. Hope that helps!