With a computer DVD burner (internal or external attached by USB) and the free online program DVD Shrink you can record 99% of all commercial DVD's in 5.1 sound. DVD Shrink let's you record all a discs menus and interactive programs. There are companys, email me privately for info on this if you need it, that sell a small device for standalones that will enable you to record from a DVD but unfortunately you have to do this manually and the interactive menus don't work. I also don't think Stand Alones will let you record in 5.1 sound. The price range you listed sounds reasonable.

Five things you should keep in mind though that I forgot to mention: 1. Do you have to finalize a DVD to get it to play once it leaves the recorder? If so, your best using DVDRW's as (at least on my lite on) you don't have to finalize them. 2. Is there any easy step by step recording guide program via the remote (there is on my lite on), 3. Is the format DVD+R or -R or both. Mine is DVD+R. 4. For quality record at SP. TV you might be able to get away with LP but don't use EP as its terrible. 5. as you will be recording in real time, save money and get say a 1X DVDR instead of a 16X DVDR, as they will record in real time at the same speed. If you are using DVD Shrink though, the higher the disc speed the faster the recording.