As I said, I usually buy what's on sale (it really is a good way to keep up variety). When chicken breast is on sale it's usually pretty good, in the $2-3.50/lb range which is about half off. Whole chicken is almost always economical. That said, there are a lot of other cuts of meat (pork chops, roasts, etc). After the holidays you'll be able to pick up turkey and ham really cheap. I got a ham last year and threw a party, it was ridiculously cheap and delicious. It's all about being flexible, if you're alright with going with the flow you can get away with spending much less than you'd think.

It's a fun challenge for me and I've come up with some fun recipes as a result. That said, I do splurge where it counts--good quality olive oil, parmesan, fresh herbs, etc. At the end of the day I'm in it for a tasty meal, not a cheap meal.