I'm pretty sure that finding the right amp is a lot harder than finding the right guitar. I've been trying to find a hybrid amp that has some nice effects and costs less than $250 and its pretty hard. Only thing I found that I really like is the discontinued Fender Vibro Champ, and they're very hard to come by. I found one more hybrid made by Vox that's also discontinued, I believe it's the AD60. I'm debating on getting it because I found it for $200 and I know it's a great deal but I don't think I would like the tone as musch as I would in a Fender. Does anyone think Vox beats Fender?
It probably depends on what you are planning to play
Does it have to be "hybrid"? If not, you could probably get a used Epi Valve Jr, a Boss SD1 and a used Zoom G3/Line 6 M5 for less than $300, just as an example.
If you give us these informations as asked on the GG&A Rules and Resources Center, we'll probably be able to help you choose a good amp that suits your needs:
Budget? - What is practical for you and what is your limit?
Genres? - What style do you play mostly, fav guitarists, do you need cleans, etc?
New or Used? - Lots of great amps out there used, especially in a down economy.
Home or Gig? - Also important. Maybe you do both. Jamming with a drummer can be considered 'gigging' but you won't have a PA etc.
Closest City? - We aren't here to stalk you but we need to know where you are in the world roughly and we can help further if we know what city you are in (ie craigslist, local shops, Guitar Center used section, etc)
Current Gear? - Also good for us to know.