A “real” flute - a keyless blackwood model that MurphyStout brought to the get-together. You ought to hear him play it . . . (Actually, you can if you go to the Clips & Snips archive 
)
The older the get the more I think I know something about all this. Here’s what I think I know:
A cheap flute will always be that… and it will go down in value.
A good flute will always be that.. and it will go up and up in value.
If you can afford it, make the jump to a good simple flute by a respected maker. Right now you can still get a Martin Doyle keyless for about $600. They are simple, unadorned flutes. They are in tunr with themselves and they are easy to blow. They are worth every penny. His prices will go up and the used flutes will accrue value. They are really great flutes from a respected maker.
BTW, don’t hold your breath waiting for a bamboo flute from PO
Doug Tipple has a very nice PVC flute–both one piece and tuneable varieties usually posted for purchase on ebay at around $35-$40. As of this post, there is a listing at
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=10183&item=2574168735
I bought one and am very pleased with it. The sound is quite full and beautiful. He has many different designs laid on the PVC, but the plain white, which turns kind of ivory with age was my choice.
the ones from LITM are made in pakistan by greenland pipe co. if you mail order one you might get it in a couple months since they’ve been out of stock for some time, I don’t know why but they seem to wait until an item is out of stock for a few months before placing orders with their suppliers.
Well, for 250 there is now a casey burns
mopane flute and the sweet maple D.
I have the latter and like it fine.
The former promises to be very good.