The plastic cases housing graded cards might as well be made of gold, because there is such a huge discrepancy in price between the 'same' graded and non-graded cards. You can get a helluva lot more for your money buying ungraded. Many people prefer having slabs to ensure the cards are authentic, but with all the crap coming down the river from PSA, even that is very questionable at times.
I guess what I'm trying to say is, you'll probably have to find a balance that works for you. If you're attending a card show and can really examine the cards to make sure they are authentic, you can make some nice headway buying ungraded cards. On-line, it's a little bit of a tougher undertaking, but the good news is eBay is pretty good (maybe too good) with supporting buyers who feel they've gotten scammed, so there isn't too much real risk involved.
Good luck!!
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