Definitely not. I've used the cheap scorers before, and I just can't deal with them. Too many broken tiles, inaccurate cuts, just a PITA to use, IMO.
Hi, so maybe you don't really know how it is with a real scorer if you've only used cheap ones

It's of course a matter of tile finish, material and thickness but many jobs can be done using a good quality scorer (they ain't cheap)
Here are a few good (european) brands that I know for their scorers
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Tomecanic France:
Their website is a bit crappy and maybe only in french, their products are topnotch though
<a href="http://s739.photobucket.com/albums/xx39/cantause/?action=view¤t=tomecanic-supercut-tile-cuttter.jpg" target="_blank"><img src="http://i739.photobucket.com/albums/xx39/cantause/tomecanic-supercut-tile-cuttter.jpg" border="0" alt="Photobucket"></a>
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Montolit Italia:
Their mastermontolit works really great, maybe the best, at least the ones I like the most. I think they make Raimondi's scrapers.
<a href="http://s739.photobucket.com/albums/xx39/cantause/?action=view¤t=mastermontolit-1.jpg" target="_blank"><img src="http://i739.photobucket.com/albums/xx39/cantause/mastermontolit-1.jpg" border="0" alt="Photobucket"></a>
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Sigma Italy:
Their tile cutters are "pull" type, some pros really like this system.
<a href="http://s739.photobucket.com/albums/xx39/cantause/?action=view¤t=Sigma.jpg" target="_blank"><img src="http://i739.photobucket.com/albums/xx39/cantause/Sigma.jpg" border="0" alt="Photobucket"></a>
There are other brands like Rubi (I've heard really good things about these), etc... but I don't know them
The manufacturers I've listed only produce top quality professional tools, of course you won't find them everywhere nor for 100$, but for 300$ their entry levels may be affordable as you have better prices in the US than here, even for euro tools

If you want to cut 50cm tiles in diagonal and have a good quality tool (I mean pro), it will be difficult to find a wet saw for 300$, a good scraper already cost more than that...
Scrapers may look oldish but they can do excellent job as long as you know how to use them and you have a good one... Search for these brands on youtube or dailymotion, you will see a lot of them in use, maybe you'll be surprised by the results
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Raimondi Italy:
They're well known for their wet saw of excellent quality, they're quite expensive....
<a href="http://s739.photobucket.com/albums/xx39/cantause/?action=view¤t=Raimondi.jpg" target="_blank"><img src="http://i739.photobucket.com/albums/xx39/cantause/Raimondi.jpg" border="0" alt="Photobucket"></a>
You should ask on a tiler's forum, I found a really good one a few years ago with a lot of threads about tile cutters but I can't remember the name, I think it was
this one
Have fun with your tiling job!