A few weeks back I was looking for a ring light so I could experiment with lighting and taking portraits. I found a pretty good one from Photojojo and it happened to be on sale for $49; score! The more professional ones can be pretty pricey but I wanted a cheaper one in case I didn't like it, I wouldn't have invested much money. This thing is pretty awesome, it has 3 levels of brightness, you can change the light to work on just one side at a time, run constantly or sync up with your flash settings. Pretty good for starting out on lighting. This past weekend I was able to use it on some friends who were kind enough to let stick this obtrusive thing in their face!
This little light has definitely lit a fire under my ass to keep working on portraiture. If you've been thinking about getting a ring light and are on a budget, I highly recommend this one (especially if it's still on sale).
-Helen