Cheapest is not always best or most desireable. I usually fly fly a PA32, C337, AA5-B
I have done the 152, 172 and PA28 thing as well. I recenetly joined a PA28 Dakota group for £155 a month and £85 an hour wet. With this aircraft I have a good usefull weight load a decent cruise speed and a decent range. With full IR certification it becomes a great aircraft for building quality hours, not just quantity hours.