The subject says it all...
I'm looking for a modeling program that is cheap (less then 200 pref. 100$). I'm looking for some effect yet cheap. I've used milkshape 3d and it's pretty cool but it kind of takes to long for my taste. I remember 3dgamstudio was advertizing some other company's software (forgot the name of it, it was the one with the Terminator 2 skull looking thing on the main page), is it any good?

Look at Silo

Have also a look at the free ones. trueSpace
and Blender. trueSpace is an easy to use 3D app, but is in the middle of transition to a new core. Which makes it a bit more complicated to use. Blender is the opposite of easy. But who knows if you nevertheless like it

sory but there is no such thing as cheap or easy
however depends on what you want to do really but in general id say try all the demos yuo can find first and see what feel most comfortable for you as it will be different for everyone
some things are eaiser to learn for some than others just depends on how you percieve things.