Garbage Disposals

We have to replace the garbage disposal in the home that we just purchased. There's a bit more to garbage disposals than I realized. The cost ranges from $349-85 USD and the features are horsepower, number of grind stages, sound suppression, chamber capacity, auto-reverse, and stainless steel grind chamber.

I've used garbage disposals before but never knew the details of the disposal so I have no frame of reference for deciding what factors are worth the money.

What disposal did you buy? Why? Do you like it?