there isn't really GOOD videoconference out there that is cheap. If you are looking for something cheap and relatively good - I would recommend Skype ( www.skype.com ) as phone ( the best audio quality on the internet phone, no doubt about that ) and Spontania, video for Skype plugin - http://www.video4im.com/. They both are for free. Use them both to get awesome audio and very good quality video. The video quality depends on your internet speed - if you have pretty good connection, as well as the other person - the Spontania will adjust it automatically and have a good quality image.

Now, the second alternative would be waiting for Skype 2.0 ( coming out within a few weeks ). It will have both voice and video abilities, no need for extra plugins.. And I believe this will be THE best conferencing tool out there.

hope that helps.