00:45 here - Our countertops look anything but cheap. They also really warmed up the kitchen. We have white cabinets. The big draw back to wood counters is that you can't do wood cabinets, but I really like the look of white with wood. We also have wood floors and I was concerned the countertops would clash with the floor, but they go perfectly.
If you don't want to go with wood exclusively, I have seen several kitchens where they mixed wood with granite or marble or other surfaces and that also looks great. Wood on the island with a solid surface for the other areas would still save money.
Some links:
This shows different styles and expense
http://kitchenbacksplashes.blogspot.com/2011/06/wood-countertops.html
Three important terms to understand "edge grain" "end grain" and "plank grain" Butcher block is "end grain" and I hate it and think it's ugly.
Our Ikea counters are "edge grain" - here is a slideshow of "edge grain"
http://www.brookscustom.com/edge-grain-portfolio.php
here's a slideshow of plank grain (more expensive and looks higher end)
http://www.brookscustom.com/premium-wide-portfolio.php