i got a cheapy effort of ebay for £10 and after using it once i've never used it again since....
i'd suggest looking around and trialling them first before yuou spend your hard earned cash and maybe spend more towards a tripod as opposed to a monopod
I use a very cheap 7dayshop one (I just looked it up - the price has shot up to £10 now ) with either a Velbon 3-way head or my Redsnapper RSH-12 ball-head and have no problem with it at all. The only time it has ever slipped on the leg-locks is when I absent-mindedly supported not only the camera's weight with it but mine too
Edit: Just seen the OP's budget - £300 for a monopod! Does that include a head?
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