My situation is similar to yours - I have a Graco travel system and wanted a lighter weight stroller. After much research and debate, I let my darling, yet cheap, husband choose - I'm not sure why I gave in but I did. We bought the $20 stroller at Babies r Us and it has been one of the best purchases we have made. It is light weight, compact and easy to use. We've had it for about 3 or so years and used it with my daughter who is 4.5 and my son who is 17 months. My husband continues to torture me with the fact that his $20 recommendation has turned out to be such a great product for us.
However, it does not recline. So, I still use the Graco stroller when I need a stroller to recline or need the storage basket.
http://www.toysrus.com/product/index.jsp?productId=3420855