IMHO, $50.00 binos are a waste of money, as is anything BSA (BSA = Been Screwed Again). Just tonight I saw an add for Schmidt and Bender riflescopes that made perfect sense. It said, "Only a rich man can afford a cheap scope" (in your case binos). The gist of the add is that you'll end up spending more money in the long-run buying cheap optics than you would if you buckled down and saved for good quality stuff. You might be thinking there can't be much difference between a $50.00 pair and a $1,000.00 pair, but believe me, there's a world of difference.
I used to use cheap glass myself, but one day I made the mistake of looking through a buddies Swarovski's and there was no turning back! If I could do anything different in my hunting career, it'd be that I would've forgone a couple of rifles and scopes years ago and spent the money on good quality binos and a spotter. A guy on another board I frequent summed it best when he said, "You ever heard of anyone who looks through top quality glass and says, What's all the fuss about?"
Having said that, I realize not everyone can spend $1k or more on binoculars, and with today's advancements in optics technology, $400.00-$500.00 buys a lot more binocular than it did even 5 years ago. In fact, you can get a great pair of binos for under $400.00 (Pentax 8x43 DCF SP's), but again, I think you're wasting your time and money looking for $50.00 binos.
If you're at all interested in the Pentax DCF SP's, go to the
www.24hourcampfire.com forums and look in the hunting optics section for a thread titled "Special Campfire Pricing on Pentax DCF SP's". I guarantee it'd be well worth your time....