To the original poster, when you do finally pull the trigger on a calabash you can do far better than mahogany on a $200 budget, in particular the 70-90s era Pioneers you see constantly on eBay (with the plastic "top hat" shaped shank extension and vulcanite stem with the little flare towards where it meets the extension). These are quite well made and a fine smoke, with a real pressed meer bowl (virtually all production 'bashes, even higher end like Bauer and Strambach, are made with pressed not block). The exceptions are the carved or decorated gourds with the very flat profile bowl insert, these bowls were made of plastic or porcelain, but they still smoke just fine. A good sized meer bowl pioneer can be had for around $100 on eBay. Many have been smoked so much they're near falling apart, it's best to let these pass and wait for one in great condition, I've even seen one or two that were totally unsmoked! Just last night I watched an excellent example go for $86.50.
http://www.ebay.com/itm/Large-Meerschaum-Bowl-Calabash-Gourd-Sherlock-Holmes-Pipe-Stem-/351393034433?pt=LH_DefaultDomain_0&hash=item51d0a830c1&nma=true&si=Waiiuw%252B9AD1jITyCBa04Cr%252BMQO8%253D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557
If you're looking for something a step up but still sub $200, you can get a very nice Strambach from a few German sellers. I ordered a 'bash from this merchant just last month and had an excellent buying experience.
http://www.ebay.com/itm/Calabash-Pfeife-Strambach-Vienna-Big-Gros-ohne-Filter-/111580079442?pt=LH_DefaultDomain_77&hash=item19fab0e552