Chang I bought the $30 model about 4 months ago (chicago elect. frm harbor freight) and it works ok (kinda noisy). I only work on my car and I don't do this professionaly so I didn't think spend the additional money was necessary.
I've used it twice and it works as well as can be expected, it did the work and did it faster than my PC DA. Like I said, I might use the rotary 4-5x per year max and the $30 chic elect is good for that. I have tried a friend's delwalt (849 i believe is the model) and it is a nicer machine, more quiet & smooth sounding, but again use vs. price I couldn't see doing it. Now if money is now object for you I would say go dewalt, makita or matabo (sp?).
as for the pads on the chic elect i use the same pads I use on my PC DA (sonus 5" pads I believe..whatever is used on the PC). I just bought the smaller backing plate for the rotary (5") so I can continue to use the sonus pads. The backing plate is from
meguiar's ( I live close to an auto body/paint supply store and they carry
meg's products).
Hope this helps.