I've been looking for a toddler bed also. The best deals on-line I've found are at Burlington Coat Factory:
http://www.bcfdirect.com/IWCatSectio...ection_Id=1048
We have one locally too and we purchased and immediately returned the metal $29 one as it bends very easily!
I have put in an inquiry to Respond.com about toddler beds with wooden slats, for under $100. Will let you know if they come up with anything! (I went through e-bates and got paid .50 for my inquiry too!)
Bluelight.com (K-Mart) also had some choices.